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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Except as provided in subsection (b) of this section, if the Commission pays a claim against the Fund based on an act or omission of a contractor, the Commission may suspend the contractor license until the contractor reimburses the Fund in full for:
(1) the amount paid from the Fund; and
(2) interest on that amount at an annual rate of at least 10%, as set by the Commission.
(b) The Commission may not suspend the contractor license if the Commission finds that the contractor or management personnel of the contractor:
(1) did not know of the wrongful conduct; or
(2) could not prevent the violation.
(c) Reimbursement of the Fund in full by a contractor, by itself, does not nullify or modify the effect of a disciplinary proceeding against a licensee.
Cite this article: FindLaw.com - Maryland Code, Business Regulation § 8-411 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-8-411/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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