[HISTORY: Adopted and amended as indicated in text.]
§ 64-1 Statutory exemptions authorized for leases or other agreements pertaining to nonprofit housing cooperatives.
[1959 Code, sec. 126; 1965 Code, sec. 130; 1969 Code, sec. 135. P.L.L., 1955, ch. 677; 1991, ch. 248]
Leases or other agreements for perpetual use and occupancy of property located in Charles County by nonprofit housing cooperative corporations to members of the corporations for residence purposes shall be exempt from the provisions of Chapter 485 of the Acts of 1884 of the General Assembly of Maryland and any amendment to the law pertaining to redemption of leases. (See § 8-110 of the Real Property Article, Annotated Code of Maryland.) The terms of the leases or other agreements reasonably appropriate for the administration of a plan of cooperative ownership of the property shall be valid and enforceable, regardless of the term or duration of the lease or agreement. The leases or other agreements pertaining to property located in Charles County, as above described, shall also be exempt from Title 10, Subtitle 1, of the Real Property Article of the Annotated Code of Maryland.