Md. Code, Corporations and Associations § 5-6B-29

Md. Code, Corporations and Associations § 5-6B-29
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(a) Subject to the requirements of this section, a proprietary lease or the bylaws of a cooperative housing corporation may provide for a late charge of no more than $15 or one–tenth of the total amount of any delinquent assessment or installment owed by a member, whichever is greater. (b) A late charge may not be imposed more than once for the same delinquent assessment or installment. (c) A late charge may only be imposed if the delinquency has continued for a period of 10 days or more.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca&section=5-6B-29&enactments=falseFetched: 10/16/2026

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