On Apr. 8, MD LEG passed bill on condominium insurance coverage.
MD LEG passed bill HB 1227 / SB 1015 relating to mandatory insurance coverage for condominiums and amending Annotated Real Property Code at MD LEG 11-114.
Bill Provisions
Updates the types of units for which certain property insurance has to be maintained.
Requires council/board of unit owners to notify owners of detached units within condo about certain required property insurance coverage, limits some insurance obligations.
Authorizes council of unit owners to carry homeowners insurance on all units in condo.
Legislative History
On Feb. 8, 2024, bill introduced in House; on Mar. 13, 2024, bill was passed in House.
On Mar. 14, 2024, bill delivered to Senate; on Apr. 8, 2024, bill was passed in Senate.
Effectiveness
Bill provisions become effective on Oct. 1, 2024.
Apr. 25, 2024 MD LEG Governor Approval
On Apr. 25, 2024, MD LEG Governor approved bill as Ch. 296, in effect Oct. 1, 2024.
In Aug. 2024, MD INS proposed bulletin on detached condo ins coverage, #221728.
