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§ 17-105. Payment of security; approval, filing location

West's Annotated Code of MarylandState Finance and Procurement

West's Annotated Code of Maryland
State Finance and Procurement
Division II. General Procurement Law [Titles 11-End] (Refs & Annos)
Title 17. Special Provisions--State and Local Subdivisions (Refs & Annos)
Subtitle 1. Security for Construction Contracts (Refs & Annos)
MD Code, State Finance and Procurement, § 17-105
§ 17-105. Payment of security; approval, filing location
Currentness
Payable party on security
(a) Security under this subtitle:
(1) if required by the State or a unit of the State government, shall be payable to “the State of Maryland”; or
(2) if required by any other public body, shall be payable to that public body.
Form approval
(b) The form of payment security or performance security shall be approved:
(1) for the State or a unit of the State government, by the Attorney General; and
(2) for any other public body, by its attorney.
Filing of security
(c) The contractor shall file the security or evidence of a trust account established as security:
(1) if payable to the State under this section, in the Office of the Comptroller; or
(2) if payable to any other public body, in the appropriate office of that public body.

Credits

Added by Acts 1988, c. 48, § 2, eff. Oct. 1, 1988.
MD Code, State Finance and Procurement, § 17-105, MD STATE FIN & PROC § 17-105
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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