§ 5–6D-05
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 5-6D-05 (2026)
Title 5. Special Types of Corporations
Subtitle 6D. Cooperative Limited Equity Housing Corporations
§ 5–6D-05LinkCopy Citation
(a)
(1)
After a Maryland nonstock corporation is converted to a cooperative limited equity housing corporation, the cooperative limited equity housing corporation shall:
(i)
Promptly provide all households in the residential rental facility with written notice of the conversion and the requirements to vacate under this section; and
(ii)
Offer the opportunity to acquire a cooperative interest and become a member of the cooperative limited equity housing corporation to each household that has lawfully resided in the residential rental facility:
(1)
On the date of the conversion; and
(2)
For at least 180 days prior to the date of the conversion.
(2)
If an eligible household fails to accept the offer under paragraph (1)(ii) of this subsection within 89 days of receipt, the offer shall be deemed to have been rejected.
(b)
Except as provided in subsections (c) and (d) of this section, a cooperative limited equity housing corporation may require a household to vacate a unit as follows:
(1)
For households that are not eligible to receive an offer to acquire a cooperative interest in accordance with subsection (a)(1)(ii) of this section, not earlier than 90 days after receipt of a written notice to vacate; or
(2)
For eligible households that receive and reject an offer to acquire a cooperative interest in accordance with subsection (a)(1)(ii) of this section, not earlier than 90 days after receipt of the offer and a written notice to vacate.
(c)
Except as provided in subsection (d) of this section, a household may not be required to vacate a unit earlier than 12 months following the receipt of a written notice to vacate if, on the date that the notice is given:
(1)
A member of the household is a disabled person or a senior citizen who has been a member of the household for at least 12 months immediately preceding receipt of the notice to vacate; and
(2)
The household:
(i)
Is a low–income household;
(ii)
Notifies the cooperative limited equity housing corporation of the intent to remain in the unit for a period of more than 90 days; and
(iii)
Submits the notice under item (ii) of this item to the cooperative limited equity housing corporation within 30 days after receiving the notice to vacate.
(d)
A household may be required to vacate the premises before the expiration of any minimum time period under this section if the household:
(1)
Breaches a covenant in the lease occurring before or after the notice to vacate is given; or
(2)
Fails to pay rent before or after the notice to vacate has been given.
(e)
A low–income household that is required to vacate a unit under this section shall receive reimbursement from the cooperative limited equity housing corporation for moving expenses that:
(1)
Are actually and reasonably incurred; and
(2)
Are at least $375 but less than $751.