State Codes and Statutes

§ 10-456. Deposits.

(a) Collection of deposits.- A provider may collect deposits from prospective subscribers if:

(1) the Department has approved the provider's feasibility study; and

(2) the provider maintains the funds collected in an escrow account.

(b) Holding deposits in escrow.- Deposits collected under subsection (a) of this section shall be held in escrow until:

(1) the provider has been issued a certificate of registration under § 10-458 of this subtitle; or

(2) a later time that the Department may set by regulation.

[An. Code 1957, art. 70B, § 22A(g); 2007, ch. 3, § 2.]

§ 10-456. Deposits.

(a) Collection of deposits.- A provider may collect deposits from prospective subscribers if:

(1) the Department has approved the provider's feasibility study; and

(2) the provider maintains the funds collected in an escrow account.

(b) Holding deposits in escrow.- Deposits collected under subsection (a) of this section shall be held in escrow until:

(1) the provider has been issued a certificate of registration under § 10-458 of this subtitle; or

(2) a later time that the Department may set by regulation.

[An. Code 1957, art. 70B, § 22A(g); 2007, ch. 3, § 2.]

§ 10-456. Deposits.

(a) Collection of deposits.- A provider may collect deposits from prospective subscribers if:

(1) the Department has approved the provider's feasibility study; and

(2) the provider maintains the funds collected in an escrow account.

(b) Holding deposits in escrow.- Deposits collected under subsection (a) of this section shall be held in escrow until:

(1) the provider has been issued a certificate of registration under § 10-458 of this subtitle; or

(2) a later time that the Department may set by regulation.

[An. Code 1957, art. 70B, § 22A(g); 2007, ch. 3, § 2.]

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