§ 5–6B-29
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-6B-29 (2026)
Title 5. Special Types of Corporations
Subtitle 6B. Maryland Cooperative Housing Corporation Act
§ 5–6B-29LinkCopy Citation
(a)
Subject to the requirements of this section, a proprietary lease or the bylaws of a cooperative housing corporation may provide for a late charge of no more than $15 or one–tenth of the total amount of any delinquent assessment or installment owed by a member, whichever is greater.
(b)
A late charge may not be imposed more than once for the same delinquent assessment or installment.
(c)
A late charge may only be imposed if the delinquency has continued for a period of 10 days or more.