Section 5-302 - Liability insurance. - Maryland Statutes

§ 4.5-302. Liability insurance.
 

(a)  In general.- Each person that constructs new homes for sale to the public shall maintain general liability insurance for at least $100,000. 

(b)  Revocation.- If a home builder's registration has been revoked and the home builder applies for a new registration, the Unit shall, in its discretion, approve the application on the applicant's fulfillment of specified terms and conditions, including the posting of a bond for the benefit of subcontractors, suppliers, and consumers, and the payment of any judgments or awards due to any subcontractors, suppliers, and consumers, for a period of 4 years from the date of the approval of registration, after which the licensing bond shall expire and shall no longer be required to be maintained by the registered home builder. 
 

[2000, ch. 522; 2008, chs. 480, 481.]