Md. Code Regs. 09.10.06.40

Current through Register Vol. 51, No. 22, November 1, 2024

Section 09.10.06.40 - Out-of-State Distributions

The application documents shall state the amount of money that will be paid by the association, during each of the first 5 years of operation, to entities located outside Maryland as:

A. Payments of profit or other distributions to investors residing outside Maryland;

B. Interest on debt with lenders located outside Maryland;

C. Payment for supplies purchased from, or services rendered by, entities based outside Maryland other than the management company;

D. Payments to the management company as reimbursement for expenses or as payment for services;

E. Rent for facilities or equipment owned by entities based outside Maryland; and

F. Any other payments to out-of-State entities.

Md. Code Regs. 09.10.06.40