Section 10-410 - Deposits(a) A provider may collect deposits from prospective subscribers if:(1) the Department has approved the provider's feasibility study; and(2) funds collected are maintained in an escrow account.(b) Each deposit agreement shall comply with the requirements of subsection (c) or (d) of this section.(c) If a deposit agreement is used for a deposit on a unit for which the provider has not received written approval to withdraw deposits, the deposit agreement shall: (1) state that all deposits and entrance fees will be held in escrow until:(i) an initial certificate of registration for the unit is issued;(ii) construction is completed;(iii) a certificate of occupancy, or its equivalent, is issued by the local jurisdiction; and(iv) the provider has the appropriate licenses or certificates from the Maryland Department of Health, the Maryland Health Care Commission, and the Department;(2) describe the disposition of any interest earned on deposits and entrance fees;(3) state the amount of any processing fee and whether it will be refunded if the deposit agreement is canceled; and(4) describe the disposition of the deposit if the deposit agreement is canceled before the continuing care agreement is executed.(d) If a deposit agreement is used for a deposit on a unit for which the provider has received written approval to withdraw deposits, the deposit agreement shall: (1) state that the provider may use all deposits and entrance fees at any time; or(2) describe any applicable limitations on the use of deposits and entrance fees.