Section 10-456 - Deposits.
§ 10-456. Deposits.
(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.
[An. Code 1957, art. 70B, § 22A(g); 2007, ch. 3, § 2.]