Section 10-456 - Deposits. - Maryland Statutes

§ 10-456. Deposits.
 

(a)  Collection of deposits.- A provider may collect deposits from prospective subscribers if: 

(1) the Department has approved the provider's feasibility study; and 

(2) the provider maintains the funds collected in an escrow account. 

(b)  Holding deposits in escrow.- Deposits collected under subsection (a) of this section shall be held in escrow until: 

(1) the provider has been issued a certificate of registration under § 10-458 of this subtitle; or 

(2) a later time that the Department may set by regulation. 
 

[An. Code 1957, art. 70B, § 22A(g); 2007, ch. 3, § 2.]