Maryland Code, REAL PROPERTY 9-302
Terms Used In Maryland Code, REAL PROPERTY 9-302
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) (1) If the contract is with an owner, the owner shall:
(i) If the contract does not provide for specific dates or times of payment, pay to the contractor undisputed amounts owed under the terms of the written contract, within the earlier of:
1. 30 days after the day on which the occupancy permit is granted; or
2. 30 days after the day on which the owner or the owner’s agent takes possession; or
(ii) If the contract provides for specific dates or times of payment, pay to the contractor undisputed amounts owed within 7 days after the date or time specified in the contract.
(2) Paragraph (1) of this subsection does not apply to any contract between the contractor and:
(i) The State;
(ii) A county;
(iii) A municipal corporation;
(iv) A board of education; or
(v) A public authority or instrumentality.
(3) If the contract is not with an owner, the contractor or subcontractor shall pay undisputed amounts owed to its subcontractors within 7 days after receipt by the contractor or subcontractor of each payment received for its subcontractors’ work or materials.