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§ 1-203. Application of article to certificates of guarantee

West's Annotated Code of MarylandInsuranceEffective: October 1, 2023

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 1. Definitions; General Provisions
Subtitle 2. General Provisions (Refs & Annos)
Effective: October 1, 2023
MD Code, Insurance, § 1-203
§ 1-203. Application of article to certificates of guarantee
Currentness
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Certificate of guarantee” means an instrument that is issued:
(i) by a nonprofit association of contractors, or its wholly owned subsidiary that is approved to operate by Baltimore County, Baltimore City, Calvert County, Charles County, Howard County, Prince George's County, Montgomery County, St. Mary's County, or Washington County, as appropriate; and
(ii) on behalf of a contractor for the purpose of satisfying:
1. county bond requirements for public improvements; or
2. other county bond requirements.
(3) “Contractor” means a person that, for a fixed price, commission, fee, or percentage, undertakes to bid on or accepts or offers to accept orders or contracts to perform or supervise the construction, improvement, or maintenance of a building, structure, or road.
Article not applicable to certificates of guarantee
(b) This article does not apply to a certificate of guarantee.
Counties which may honor certificates of guarantee
(c) Baltimore County, Baltimore City, Calvert County, Charles County, Howard County, Montgomery County, Prince George's County, St. Mary's County, and Washington County:
(1) may honor certificates of guarantee; but
(2) are not required under this article to honor certificates of guarantee.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997. Amended by Acts 2006, c. 100, § 1, eff. Oct. 1, 2006; Acts 2015, c. 248, § 1, eff. Oct. 1, 2015; Acts 2023, c. 215, § 1, eff. Oct. 1, 2023; Acts 2023, c. 237, § 1, eff. June 1, 2023.
Formerly Art. 48A, § 9A.
MD Code, Insurance, § 1-203, MD INSURANCE § 1-203
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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