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Ch. 616
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2000 LAWS OF MARYLAND
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BY repealing and reenacting, without amendments,
Article — Business Regulation
Section 8-405(a) and (e)
Annotated Code of Maryland
(1998 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, with amendments,
Article - Business Regulation
Section 8-409(b)
Annotated Code of Maryland
(1998 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Business Regulation
8-405.
(a) Subject to this subtitle, an owner may recover compensation from the
Fund for an actual loss that results from an act or omission by a licensed contractor
or a violation of § 8-607(4) of this title as found by the Commission or a court of
competent jurisdiction.
(e) The Commission may not award from the Fund:
(1) more than $10,000 to 1 claimant for acts or omissions of 1 contractor;
(2) more than $100,000 to all claimants for acts or omissions of 1
contractor unless, after the Commission has paid out $100,000 on account of acts or
omissions of the contractor, the contractor reimburses $100,000 to the Fund;
(3) an amount for attorney fees, consequential damages, court costs,
interest, personal injury damages, or punitive damages; or
(4) an amount as a result of a default judgment in court.
8-409.
(b) (1) Except as otherwise provided in this subsection, the Commission
shall pay approved claims in the order submitted.
(2) If approved claims submitted to the Commission against a contractor
exceed [$50,000] $100,000 less the amount of unreimbursed claim payments
previously made for the contractor, the Commission may pay the approved claims
proportionately so that each claimant receives the same percentage payment of the
claims.
(3) After the Fund is reimbursed, the Commission shall pay unsatisfied
approved claims.
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- 3240 -
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