Regulation .40 Out-of-State Distributions.
Regulation .40 Out-of-State Distributions.LinkCopy Citation
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.