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Session Laws, 1986
Volume 768, Page 1400   View pdf image
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1400

LAWS OF MARYLAND

Ch. 360

(iii) 80 percent of the unit owners, including
every owner of a unit or assigned limited common element which
will not be rebuilt, vote not to rebuild.

(2)  The cost of repair or replacement in excess of
insurance proceeds and reserves is a common expense.

(3)  If the [entire] DAMAGED OR DESTROYED PORTION OF
THE condominium is not repaired or replaced:

(i) The insurance proceeds attributable to the
damaged common elements shall be used to restore the damaged area
to a condition compatible with the remainder of the condominium;

(ii) The insurance proceeds attributable to
units and limited common elements which are not rebuilt shall be
distributed to the owners of those units and the owners of the
units to which those limited common elements were assigned; and

(iii) The remainder of the proceeds shall be
distributed to all the unit owners in proportion to their
percentage interest in the common elements.

(4)  If the unit owners vote not to rebuild any unit,
that unit's entire common element interest, votes in the council
of unit owners, and common expense liability are automatically
reallocated upon the vote as if the unit had been condemned under
§ 11-112, and the council of unit owners promptly shall prepare,
execute, and record an amendment to the declaration reflecting
the reallocations. Notwithstanding the provisions of this
subsection, § 11-123 governs the distribution of insurance
proceeds if the condominium is terminated.

11-118.

(c) Except in proportion to his percentage interest in the
common [elements] EXPENSES AND PROFITS, a unit owner personally
is not liable (1) for damages as a result of injuries arising in
connection with the common elements solely by virtue of his
ownership of a percentage interest in the common elements; or (2)
for liabilities incurred by the council of unit owners. On
payment by any unit owner of his proportionate amount of any
judgment resulting from that liability, the unit owner is
entitled to a recordable release of his unit from the lien of the
judgment and the council of unit owners is not entitle to assess
his unit for payment of the remaining amount due.

11-126.

(b) The public offering statement required by subsection
(a) shall be sufficient for the purposes of this section if it
contains at least the following:

(1) A copy of the proposed contract of sale for the
unit;

 

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Session Laws, 1986
Volume 768, Page 1400   View pdf image
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