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.
Authority: Business Regulation Article, §11-210, Annotated Code of Maryland
Effective date: December 13, 1999 (26:25 Md. R. 1897)