Maryland § 14-115
Full text of Maryland Maryland Code § 14-115, with citation guidance and answers to common questions.
§ 14-115.
(a) If a seller guarantees that a buyer will derive from a business opportunity income that will exceed the price paid for the business opportunity or represents that the seller will refund all or part of the price paid or repurchase the products, equipment, or supplies sold or leased by the seller if the buyer is not satisfied with the business opportunity, the seller shall:
(1) get a surety bond in favor of the State from a surety company authorized to do business in the State; or
(2) establish a trust account in favor of the State with an insured bank or savings institution in the State.
(b) The amount of the bond or trust account shall be at least $50,000.
(c) (1) A person may bring an action against the bond or trust account to recover damages resulting from:
(i) a violation of this subtitle; or
(ii) the seller’s breach of the contract for the sale of a business opportunity.
(2) The surety or trustee is liable only for actual damages up to the amount of the bond or trust account.
Frequently Asked Questions About Maryland § 14-115
What does Maryland Code § 14-115 cover?
Section 14-115 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 14-115?
A common citation format is "Maryland Code § 14-115" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 14-115 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.