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§ 15-604. Surety bond requirements

West's Annotated Code of MarylandTransportationEffective: October 1, 2018

West's Annotated Code of Maryland
Transportation
Title 15. Vehicle Laws--Licensing of Businesses and Occupations (Refs & Annos)
Subtitle 6. Title Service Agents (Refs & Annos)
Effective: October 1, 2018
MD Code, Transportation, § 15-604
§ 15-604. Surety bond requirements
Currentness
Application of section
(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.
Filing of surety bond with Administration
(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.
Amount of surety bond
(c) The amount of the surety bond shall be $50,000.

Credits

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.
MD Code, Transportation, § 15-604, MD TRANS § 15-604
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.
End of Document