This subtitle does not apply to new homes built, new home warranties offered, or new home warranty security plans operating in Montgomery County, except that it shall apply:

(1) To any municipality in Montgomery County that has exempted itself from the application of Chapter 31C, New Home Warranty and Builder Licensing, of the Montgomery County Code; or

(2) If Chapter 31C, New Home Warranty and Builder Licensing, of the Montgomery County Code is no longer in effect or is amended in such a manner that it becomes less stringent than the requirements of this subtitle.