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Ch. 321
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2007 Laws of Maryland
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(3) (I) IF A AN INDEPENDENT RECEIVER IS APPOINTED
PURSUANT TO A PETITION FILED UNDER SUBSECTION (A) OF THIS SECTION, THE
RECEIVER SHALL SERVE UNTIL:
1. THE CLOUD ON THE TITLE HAS BEEN CLEARED;
OR
2. THE SUBSTANTIAL IMPAIRMENT HAS ABATED.
(II) IF A AN INDEPENDENT RECEIVER IS APPOINTED
PURSUANT TO A PETITION FILED UNDER SUBSECTION (B) OF THIS SECTION, THE
RECEIVER SHALL SERVE UNTIL THE COUNCIL OF UNIT OWNERS FILLS
VACANCIES ON THE BOARD OF DIRECTORS SUFFICIENT TO CONSTITUTE A
QUORUM.
(E) IF A AN INDEPENDENT RECEIVER IS APPOINTED, THE SALARY OF
THE RECEIVER, COURT COSTS, AND REASONABLE ATTORNEY'S FEES ARE
COMMON EXPENSES.
11B-111.5.
(A) LOT OWNERS REPRESENTING AT LEAST 60% OF THE LOT OWNERS
IN A DEVELOPMENT MAY PETITION THE CIRCUIT COURT FOR THE COUNTY
WHERE THE DEVELOPMENT IS LOCATED TO APPOINT A AN INDEPENDENT
RECEIVER TO MANAGE THE AFFAIRS OF THE GOVERNING BODY IF AN ACT OR
FAILURE TO ACT BY THE GOVERNING BODY WOULD RESULT IN:
(1) A CLOUD ON THE TITLE TO THE PROPERTY OF ALL LOTS IN
THE DEVELOPMENT; OR
(2) A SUBSTANTIAL IMPAIRMENT OF THE ABILITY OF A LOT
OWNER IN THE DEVELOPMENT TO SELL THE OWNER'S LOT.
(B) LOT OWNERS REPRESENTING AT LEAST 10% OF THE THREE OR
MORE LOT OWNERS IN A DEVELOPMENT MAY PETITION THE CIRCUIT COURT
FOR THE COUNTY WHERE THE DEVELOPMENT IS LOCATED TO APPOINT A AN
INDEPENDENT RECEIVER TO MANAGE THE AFFAIRS OF THE GOVERNING BODY
IF:
(1) THERE ARE INSUFFICIENT MEMBERS REMAINING ON THE
GOVERNING BODY TO CONSTITUTE A QUORUM; AND
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- 2044 -
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