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§ 5-102.1. Surety bond or insurance policy; Unemployment Insurance Fund

West's Annotated Code of MarylandState GovernmentEffective: June 1, 2024

West's Annotated Code of Maryland
State Government (Refs & Annos)
Title 5. Treasurer (Refs & Annos)
Effective: June 1, 2024
MD Code, State Government, § 5-102.1
§ 5-102.1. Surety bond or insurance policy; Unemployment Insurance Fund
Currentness
Requirement
(a) In addition to the bond or insurance policy required under § 5-102 of this subtitle, the State Treasurer shall be covered by a surety bond or an insurance policy meeting the requirements of this section.
Surety bond
(b) A surety bond purchased to meet the requirements of subsection (a) of this section shall:
(1) be conditioned on the faithful performance of the duties of the State Treasurer as custodian of the Unemployment Insurance Fund;
(2) run to the State;
(3) be in an amount that the Secretary approves; and
(4) be in a form required by law or approved by the Attorney General.
Insurance policy
(c) An insurance policy purchased to meet the requirements of subsection (a) of this section shall be of the type and in the amount of coverage determined by the State Treasurer, in consultation with the Secretary of Labor.

Credits

Added by Acts 1991, c. 8, § 3, eff. Oct. 1, 1991. Amended by Acts 2024, c. 437, § 1, eff. June 1, 2024; Acts 2024, c. 438, § 1, eff. June 1, 2024.
MD Code, State Government, § 5-102.1, MD STATE GOVT § 5-102.1
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document