Maryland § 4.5-703
Full text of Maryland Maryland Code § 4.5-703, with citation guidance and answers to common questions.
§ 4.5-703.
(a) The Division shall:
(1) establish a Home Builder Guaranty Fund; and
(2) maintain the Guaranty Fund at a level of at least $1,000,000.
(b) (1) The Division shall deposit all money collected under § 4.5–704 of this subtitle in the Guaranty Fund.
(2) (i) The State Treasurer is the custodian of the Guaranty Fund.
(ii) The Guaranty Fund shall be invested and reinvested in the same manner as other State funds.
(iii) The State Treasurer shall deposit payments received from the Division under this section into the Guaranty Fund.
(iv) Investment earnings shall be credited to the Guaranty Fund.
(c) The Division shall administer the Guaranty Fund in accordance with this subtitle.
(d) The direct and indirect costs incurred for the administration of and enforcement related to the Guaranty Fund shall be paid from the Registration Fund established under § 4.5–203 of this title.
(e) The accounts and transactions of the Guaranty Fund shall be subject to audit by the Legislative Auditor in accordance with §§ 2–1220 through 2–1227 of the State Government Article.
Frequently Asked Questions About Maryland § 4.5-703
What does Maryland Code § 4.5-703 cover?
Section 4.5-703 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 § 4.5-703?
A common citation format is "Maryland Code § 4.5-703" (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 § 4.5-703 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.