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§ 9-114. Bonding requirement

West's Annotated Code of MarylandState Government

West's Annotated Code of Maryland
State Government (Refs & Annos)
Title 9. Miscellaneous Executive Agencies (Refs & Annos)
Subtitle 1. State Lottery Agency (Refs & Annos)
MD Code, State Government, § 9-114
§ 9-114. Bonding requirement
Currentness
Lottery agent bond, letter of credit, or security deposit
(a) The Director may require any lottery agent granted a license to post either an appropriate surety bond, irrevocable letter of credit, or cash security deposit in the amount that the regulations of the Agency set.
Blanket bond
(b)(1) In lieu of a surety bond, irrevocable letter of credit, or cash security deposit, the Agency, at the discretion of the Director, may provide a blanket bond covering all or selected agents in accordance with the availability of bonds and the financial status of an individual or a corporation.
(2) A bond provided by the Agency shall be:
(i) provided at the agent's expense; and
(ii) based upon a financial evaluation of the agent conducted by the Director.

Credits

Added by Acts 1984, c. 284, § 1, eff. Oct. 1, 1984. Amended by Acts 1991, c. 163, § 1, eff. July 1, 1991.
Formerly Art. 88D, § 8.
MD Code, State Government, § 9-114, MD STATE GOVT § 9-114
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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