HOUSE BILL 1053

Sponsored By:

Delegate Braveboy

Entitled:

Common Ownership Communities - Fidelity Bond Coverage

Synopsis:

Requiring specified governing or managing bodies of a cooperative housing corporation, condominium, or homeowners association to execute a fidelity bond for specified purposes in a specified amount; prohibiting the total liability of the surety to all insured persons under the bond from exceeding the sum of the bond; establishing that specified unit or lot owners may submit a specified dispute to the Division of Consumer Protection of the Office of the Attorney General; etc.

History by Legislative and Calendar Date

House Action

2/7

First Reading Environmental Matters

2/12

Hearing 3/13 at 1:00 p.m.

3/19

Referred to interim study by Environmental Matters

Senate Action

No Action

Bill indexed under the following Subjects:

Bonds -see also- County & Baltimore City Bonds; State Bonds.

Condominiums

Consumer Protection -see also- Unfair Trade Practices

Cooperative Associations

Homeowners Associations

Housing -see also- Apartments; Condominiums; Mobile Homes

Liability -see also- Good Samaritan

Records -see also- Land Records; Vital Records

Bill affects the following Statutes:

Corporations and Associations

( 5-6B-18.6 )

Real Property

( 11-114.1 , 11B-111.6 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered