Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 05. Department of Housing & Community Development |
Subtitle 06. HOUSING INSURANCE |
Chapter 05.06.02. Tax Credit Bridge Loan Insurance |
Sec. 05.06.02.11. Project Management
Latest version.
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The Fund requires that either the holder of the first mortgage or the Fund be able to require replacement of the management agent, if either the first mortgagee or the Fund in conjunction with the first mortgagee determines that rent-up or other operation of the project is not progressing satisfactorily.