Sec. 11A-5A. Reserved.

   Editor's note—In its complete revision of this chapter, 1982 L.M.C., ch. 2, § 1, did not include § 11A-5A.

Secs. 11A-5B, 11A-5C. Reserved.

   Editor's note—Section 11A-5B, "Leaseholds Extending Beyond Notice to Terminate," was added by § 1 of 1980 L.M.C., ch. 15. Section 11A-5C, "Transfer of Rental Facilities," was added by § 1 of 1980 L.M.C., ch. 5, and was repealed and reenacted by § 1 of 1989, L.M.C., ch. 9. Neither of these two sections was included in the complete revision of this chapter by 1982 L.M.C., ch. 2, § 1.

Sec. 11A-6. Public offering statement.

   A developer must file with the Director, concurrently with filing with the Secretary of State under state law, copies as required by regulation of the public offering statement described in state law, including copies of all amendments. (1982 L.M.C., ch. 2, § 1; 1996 L.M.C., ch. 13, § 1.)

Sec. 11A-7. Consumer guide.

   (a)   The developer must file with the Director, concurrently with the filing of the public offering statement under Section 11A-6, copies as required by regulation of the consumer guide required under this Section. The developer must file any later amendments to the consumer guide with the Department.

   (b)   The purchaser shall be given at the time a contract is entered into between the developer and purchaser a consumer guide containing all information set forth in subsection (c), as well as a public offering statement. The purchaser shall be provided with any subsequent amendments to the consumer guide.

   (c)   The consumer guide shall be sufficient if it contains the following:

      (1)   Plat.

      (2)   Sample deed.

      (3)   Estimated itemized closing costs.

      (4)   Estimated itemized monthly housing costs, including principal, interest, taxes, condominium fee and utilities.

      (5)   Statement of all warranties, including statutory implied warranties.

      (6)   Name(s) of institutions offering long-term financing and terms, if the developer has obtained a commitment.

      (7)   Other information, as required by executive regulations adopted by the County Executive under method (3) of Section 2A-15 of this Code, to promote full and fair disclosure of the details of the transaction, the nature of condominium ownership and the characteristics of the particular condominium facility.

   (d)   A purchaser's right to receive a consumer guide may not be waived.

   (e)   Concurrently with the filing of the public offering statement and consumer guide with the Department, the developer must notify tenants in the rental facility in the manner

prescribed by regulation, of the filing and of the tenants' rights to review these documents.

   (f)   A Montgomery County property report accepted by the Director before July 1, 1981, may be considered the consumer guide for the condominium therein described for purposes of this Section. (1981 L.M.C., ch. 26, § 2; 1982 L.M.C., ch. 2, § 1; 1984 L.M.C., ch. 24, § 14; 1996 L.M.C., ch. 13, § 1.)

   Editor’s note-Section 11A-7(c) (formerly §11A-5(c)) is cited in Rockville Grosvenor, Inc. v. Montgomery County, 289 Md. 74, 422 A.2d 353 (1980).

Sec. 11A-8. Notices to local government.

   (a)   A developer must file with the Director a copy of the notice of intention to create a condominium concurrently with giving notice to tenants under state law.

   (b)   The owner/developer of any property in the County must notify the Director of the subjection of the property to a condominium regime in the County, concurrently with the recordation of the declaration, bylaws and condominium plat in County land records under state law. (1982 L.M.C., ch. 2, § 1; 1996 L.M.C., ch. 13, § 1.)

Sec. 11A-9. Budgeted reserves.

   During the period when the developer retains control of the council of unit owners, the developer of a condominium shall budget and contribute annually to reserves. The contribution of the developer shall be in proportion to the number of condominium units owned by the developer, but in no event shall the total annual contributions of all unit owners, including the developer, be less than an amount calculated to maintain the reserve fund at a level adequate for deferred maintenance, repairs and replacement of those common elements or major components of common elements that must be replaced on a periodic basis.

   The county executive shall adopt regulations under method (3) of section 2A-15 of this Code detailing requirements of the budgeted reserves to be incorporated in the consumer guide. (1982 L.M.C., ch. 2, § 1; 1983 L.M.C., ch. 55, § 2; 1984 L.M.C., ch. 24, § 14; 1984 L.M.C., ch. 27, § 13.)

   Editor’s note-Section 11A-9 (formerly §1A-5C) held valid in Rockville Grosvenor, Inc. v. Montgomery County, 289 Md. 74, 422 A.2d 353 (1980).

Sec. 11A-10. Inspection of property.

   In the case of conversion from rental or other legal status to condominiums, a professional engineer, licensed to practice in the State of Maryland, designated by a tenant organization shall be given complete access to the extent that the owner has access to the property, and to all architectural plans, drawings, specifications and related documents for the purpose of inspection and verification of all information required in the public offering statement and the consumer guide. The owner shall be held harmless for any liability for such inspection. The group of prospective purchasers shall be responsible for any damage done to the property as a result of said inspection. (1982 L.M.C., ch. 2, § 1.)