§ 10-456. Deposits

Latest version.

   (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.

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

                    
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