1. (a) In this subtitle the following words have the meanings indicated.
2. (b) “Payment security” means security to guarantee payment for labor and materials, including leased equipment, under a contract for construction.
3. (c) “Performance security” means security to guarantee the performance of a contract for construction.

4. (d) “Public body” means:

   1. (1) the State;
   2. (2) a county, municipal corporation, or other political subdivision;
   3. (3) a public instrumentality; or
   4. (4) any governmental unit authorized to award a contract.

5. (e)

   1. (1) “Supplier” means a person who supplies labor or materials.
   2. (2) “Supplier” includes a lessor of equipment to the extent of the fair rental value of the equipment.

Added by Acts 1988, c. 48, § 2, eff. Oct. 1, 1988. Amended by Acts 2000, c. 655, § 1, eff. Oct. 1, 2000.