(a) Notice to tenants. A developer must give each tenant of the property one hundred eighty (180) days' written notice of the intent to convert and a summary of all tenant and purchaser rights, an application for an extended lease, and a copy of an extended lease under this Chapter before the developer:
(1) Converts a property to cooperative;
(2) Gives a tenant of the property a notice to leave for the purpose of selling a membership; or
(3) Makes a subscription agreement.
(b) Notice to new tenants. After a developer gives notice under this section and before the developer accepts a new tenant for the property, the developer must give the prospective tenant:
(1) Notice that the notice required under this section was given; and
(2) Notice of the date on which the initial notice was given.
(c) Notice to the Department. At least 10 days before a developer gives the notice under subsection (a), the developer must give to the Department:
(1) A copy of the notice; and
(2) The name and unit number of each tenant to whom the notice is to be given. (1985 L.M.C., ch. 39, § 1; 1996 L.M.C., ch. 13, § 1.)