Md. Code Ann., Transp. § 15-604
Surety bond requirements
Effective Oct 1, 2018Added by Acts 1977, c. 14, § 2, eff. July 1, 1977. Amended by Acts 1997, c. 70, § 4, eff. Oct. 1, 1997; Acts 1999, c. 14, § 1, eff. June 1, 1999; Acts 2018, c. 512, § 1, eff. Oct. 1, 2018.State of Maryland
(a) This section does not apply to:
- (1) A licensed dealer who is in compliance with the surety bond requirement of Subtitle 3 of this title; or
- (2) A motor club that is in compliance with the surety bond requirement of § 26-204 of the Insurance Article.
- (b) After the Administration notifies an applicant of the approval of an application and before the Administration issues a license, the applicant shall file with the Administration a surety bond in the form and with the surety that the Administration approves.
- (c) The amount of the surety bond shall be $50,000.
Added by Acts 1977, c. 14, § 2, eff. July 1, 1977. Amended by Acts 1997, c. 70, § 4, eff. Oct. 1, 1997; Acts 1999, c. 14, § 1, eff. June 1, 1999; Acts 2018, c. 512, § 1, eff. Oct. 1, 2018.
Formerly Art. 66 ½, § 5-804.