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Maryland Code, Insurance § 27-406.1

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) In this section, “individual surety” means a person that:

(1) issues surety bonds or contracts of surety insurance; and

(2) does not have a certificate of authority issued by the Commissioner.

(b) It is a fraudulent insurance act for an individual surety to solicit or issue a surety bond or contract of surety insurance except as provided in:

(1) §§ 13-207 and 17-104 of the State Finance and Procurement Article; and

(2) for an uncompensated person, §§ 5-203 and 5-204 of the Criminal Procedure Article.

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Cite this article: FindLaw.com - Maryland Code, Insurance § 27-406.1 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-27-406-1/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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