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Maryland Code, State Finance and Procurement § 17-102

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

(a) This subtitle does not limit the authority of a public body to require performance security in addition to, or in cases other than, those specified under §§ 17-103, 17-104, 17-106, and 17-107 of this subtitle.

(b) This subtitle applies only to security for a construction contract.

(c)(1) By ordinance, Baltimore City may provide for a program to satisfy the bonding requirements under §§ 17-103, 17-104, 17-106, and 17-107 of this subtitle with respect to any construction contract:

(i) that does not exceed $200,000; and

(ii) for which State money is not used.

(2) The program shall provide for payment security of at least 50% of the total amount payable under the contract.

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Cite this article: FindLaw.com - Maryland Code, State Finance and Procurement § 17-102 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-finance-and-procurement/md-code-state-fin-and-proc-sect-17-102/

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