NEW LAWS

Legislation Signed into Law in 2014

HB 602-Foreclosure of Liens

This law is a slight modification of a law passed last year. It stated that a common ownership community (COC) may only foreclose on a lien that consists solely of assessments, special assessments, interest and reasonable costs and attorneys’ fees. Foreclosure cannot occur for only fines, attorney fees or collection fees.

SB 865- Maryland Cooperative Transparency and Member Rights

This law gives owners in Cooperatives many of the rights that condominium owners have, including a dispute resolution procedure.