Md. Code, Economic Development § 5-569

Md. Code, Economic Development § 5-569
in effect
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(a) The Authority may execute and perform a bid bond, performance bond, and payment bond as a surety for the benefit of a principal in connection with a contract financed by the federal government or a state government, a local government, a private entity, or a utility regulated by the Public Service Commission. (b) (1) This subsection does not apply if the sources of funding for the bonds are grants. (2) The bonds may not exceed $2,500,000 each. (c) Bonds are subject to the approval of the Authority based on the bond worthiness of the principal.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec&section=5-569&enactments=falseFetched: 10/16/2026