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09.01.09.00.htm 09.01.09.00. Title 09 MARYLAND DEPARTMENT OF LABOR Subtitle 01 OFFICE OF THE SECRETARY Chapter 09 New Home Warranty Security Plans Authority: Real Property Article, Title 10, Subtitle 6, Annotated Code of Maryland
09.01.09.01.htm 09.01.09.01. 01 Disclosure by Builders Not Participating in New Home Warranty Security Plan.. A. The disclosure shall be printed in at least 12-point type.. B. The disclosure shall read as follows:. Maryland law requires a builder who does not participate in a new home warranty security plan to make the following disclosure as part of the contract for sale or construction of a new home.Builders of new homes, in the State of Maryland, are required to be registered with the Consumer Pro
09.01.09.02.htm 09.01.09.02. 02 Disclosure Required by Builders Participating in New Home Warranty Security Plan.. A. The disclosure shall be printed in at least 12-point type.. B. The disclosure shall read as follows:. Maryland law requires a builder who participates in a new home warranty security plan to make the following disclosure as part of the contract for sale or construction of a new home:I am a builder who participates in a Maryland approved new home warranty security plan, and under th
09.01.09.03.htm 09.01.09.03. 03 Disclosure Required by Builder Leaving Decision to Participate in New Home Warranty Security Plan to the Buyer.A. The disclosure shall be printed in at least 12-point type.. B. The disclosure shall read as follows:. Maryland law allows a builder who participates in a new home warranty plan to offer the warranty to the buyer at the buyer's option. A builder who proceeds in this fashion must make the following disclosure as part of the contract for sale or constru
09.01.09.04.htm 09.01.09.04. 04 Notification Required to be Given to Buyer on Warranty Date.. A. On the warranty date, if a builder participates in a New Home Warranty Security Plan or if a buyer has elected to have the builder participate in a plan, the builder shall provide the owner with evidence that the new home is covered by a new home warranty that meets the requirements of Maryland law.B. Evidence of participation is a letter from the New Home Warranty Security Plan certifying that th
09.01.09.05.htm 09.01.09.05. 05 Notice to Buyer Required by Builders Participating in New Home Warranty Security Plan or Electing to Allow Buyer the Option of Participating in New Home Warranty Security Plan.A. The notice shall be printed in at least 12-point type.. B. The notice shall be incorporated into the contract in a conspicuous manner and shall read as follows:Notice to Buyer. Your new home will be covered by a new home warranty that meets the minimum requirements established under Title 10, Subtitle
09.01.09.06.htm 09.01.09.06. 06 Financial Security Requirements for New Home Warranty Security Plan.. A. Approval of a new home warranty security plan shall continue only if the operator of the plan remains financially able to pay all valid claims.B. The operator shall demonstrate financial responsibility from time to time to the Secretary in the following manner:1) The operator shall maintain and file with the Secretary a surety bond from an authorized insurer or an irrevocable letter of credit from a federall
09.01.09.07.htm 09.01.09.07. 07 Registration and Effective Date of New Home Warranty Security Plan.. A. If a contract for sale or construction of a new home between a buyer and a builder who participates in a new home warranty security plan provides, either by its terms or by virtue of an option exercised by the buyer, that the home will be registered in the plan, the operator of the plan shall register the home and shall do so at the cost agreed upon between the operator and the builder and disc
09.01.09.08.htm 09.01.09.08. 08 Other Warranties.. The warranties provided under a new home warranty security plan are in addition to warranties otherwise provided by law, including those set forth in Real Property Article, ยง10-202, 10-203, and 11-131, Annotated Code of Maryland.
09.01.09.09.htm 09.01.09.09. 09 Notice Requirements for Denial of Coverage.. A. Notice of Denial.. 1) The operator of a plan shall notify the buyer in writing of a decision to deny warranty coverage for all or part of a claim not later than 90 days after the claim is received by the operator.2) The notice of denial shall include:. a) Reference to the specific terms of the plan on which the denial is based; and. b) The procedures which the buyer must follow to appeal the denial, including all time limitations..
09.01.09.9999.htm 09.01.09.9999. Administrative History Effective date:. Regulations .01โ€•03 amended as an emergency provision effective January 1, 2000 (26:27 Md. R. 2013) amended permanently effective May 1, 2000 (27:8 Md. R. 798)Regulations .01โ€•03 amended as an emergency provision effective January 1, 2001 (28:2 Md. R. 97) emergency status expired June 1, 2001; amended permanently effective June 25, 2001 (28:12 Md. R. 1105)Regulations .01โ€•08 adopted as an emergency provision effective January 1, 1
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