{"data":{"id":"us-md/md.-code-human-services-10-410","jurisdiction":"us-md","citation":"Md. Code, Human Services § 10–410","heading":"","body":"(a) A provider may collect deposits from prospective subscribers if:\n(1) the Department has approved the provider’s feasibility study; and\n(2) funds collected are maintained in an escrow account.\n(b) Each deposit agreement shall comply with the requirements of subsection (c) or (d) of this section.\n(c) If a deposit agreement is used for a deposit on a unit for which the provider has not received written approval to withdraw deposits, the deposit agreement shall:\n(1) state that all deposits and entrance fees will be held in escrow until:\n(i) an initial certificate of registration for the unit is issued;\n(ii) construction is completed;\n(iii) a certificate of occupancy, or its equivalent, is issued by the local jurisdiction; and\n(iv) the provider has the appropriate licenses or certificates from the Maryland Department of Health, the Maryland Health Care Commission, and the Department;\n(2) describe the disposition of any interest earned on deposits and entrance fees;\n(3) state the amount of any processing fee and whether it will be refunded if the deposit agreement is canceled; and\n(4) describe the disposition of the deposit if the deposit agreement is canceled before the continuing care agreement is executed.\n(d) If a deposit agreement is used for a deposit on a unit for which the provider has received written approval to withdraw deposits, the deposit agreement shall:\n(1) state that the provider may use all deposits and entrance fees at any time; or\n(2) describe any applicable limitations on the use of deposits and entrance fees.","path":["Article - Human Services"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=ghu\u0026section=10-410","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:17Z","sha256":"4242e1f9cd5534ea5623d3cde101cf24816ee18590419b85bc614c5d7921e1a8","source_id":"us-md","stale":false,"prev":"us-md/md.-code-human-services-10-409","next":"us-md/md.-code-human-services-10-411"},"notice":"GroundRules: Original legal text. Not legal advice."}