Maryland Code, Business Regulation § 4.5-701
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In this subtitle, “actual loss” means:
(1) the costs of restoration, repair, replacement, or completion that arise from:
(ii) the failure to meet standards or guidelines required in § 14-117 of the Real Property Article; or
(2) deposits or other payments made to a home builder required to be held in an escrow account or protected by a surety bond or irrevocable letter of credit under § 10-301 or § 10-504 of the Real Property Article, that are not returned to a consumer who is entitled to a return of the deposit or other payments.
Cite this article: FindLaw.com - Maryland Code, Business Regulation § 4.5-701 - last updated December 31, 2021 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-4-5-701/
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