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§ 4-102. Surety bond or insurance policy

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

West's Annotated Code of Maryland
State Government (Refs & Annos)
Title 4. Comptroller (Refs & Annos)
Effective: June 1, 2024
MD Code, State Government, § 4-102
§ 4-102. Surety bond or insurance policy
Requirement
(a) While in office, the Comptroller shall be covered by a surety bond or an insurance policy as required in this section.
Surety bond
(b) A surety bond of the Comptroller shall:
(1) run to the State;
(2) be in the amount of $200,000;
(3) be with surety that the Governor approves; and
(4) be conditioned on the Comptroller:
(i) accounting for the funds that are received under color of office; and
(ii) otherwise discharging faithfully each duty of office.
Filing of surety bond
(c) After execution and approval of a surety bond under this section, the surety bond shall be recorded in the office of the Clerk of the Supreme Court of Maryland.
Insurance policy
(d) The State Treasurer shall determine the type and amount of coverage to be provided by an insurance policy purchased under subsection (a) of this section and keep record of any insurance policy procured to meet the requirements of subsection (a) of this section.

Credits

Added by Acts 1984, c. 284, § 1, eff. Oct. 1, 1984. Amended by Acts 2023, c. 49, § 6; Acts 2024, c. 437, § 1, eff. June 1, 2024; Acts 2024, c. 438, § 1, eff. June 1, 2024.
Formerly Art. 19, § 2.
MD Code, State Government, § 4-102, MD STATE GOVT § 4-102
Current through legislation effective through June 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