§ 5–553
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 5-553 (2026)
Title 5. Economic Development and Financial Assistance Programs
Subtitle 5. Maryland Small Business Development Financing Authority
§ 5–553LinkCopy Citation
(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.
(b)
(1)
This subsection does not apply if the sources of funding for the bonds are grants.
(2)
The bonds may not exceed $5,000,000 each.
(c)
Bonds are subject to the approval of the Authority based on the bond worthiness of the principal.