Maryland § 10-120
Full text of Maryland Maryland Code § 10-120, with citation guidance and answers to common questions.
§ 10-120.
(a) In addition to any other remedies available at law or equity, the Fund is vested with all claims and rights of the former Maryland Savings–Share Insurance Corporation against any person.
(b) Notwithstanding any other provision of law, in any action of the Fund as insurer, subrogee, conservator, or receiver against a shareholder, director, officer, employee, agent, or other person contributing to a loss at a member association or to enforce the terms of a net worth certificate or similar obligation:
(1) A judgment obtained by the Fund shall have priority over any other judgment lien on a defendant’s real or personal property without need for further perfection or execution thereon;
(2) All attorneys’ fees, costs, and expenses of the Fund for the litigation shall be assessed as part of any judgment in favor of the Fund; and
(3) All money recovered by the Fund as insurer or subrogee shall be first applied to repay any monetary advance by the State to the Fund, including any and all fees, costs, and expenses, to further the purposes of this title. Money so recovered shall be placed in a separate account and shall be transferred as specified under § 10–110.2 of this subtitle. The separate account is not subject to attachment or other judicial process by any person.
(c) All rights, claims, and liabilities of the Fund accrue to any successor entity and, if a successor entity is not created by law, to the Maryland Department of Labor.
Frequently Asked Questions About Maryland § 10-120
What does Maryland Code § 10-120 cover?
Section 10-120 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 § 10-120?
A common citation format is "Maryland Code § 10-120" (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 § 10-120 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.