§ 1–203
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 1-203 (2026)
Title 1. Definitions; General Provisions
Subtitle 2. General Provisions
§ 1–203LinkCopy Citation
(a)
(1)
In this section the following words have the meanings indicated.
(2)
“Certificate of guarantee” means an instrument that is issued:
(i)
by a nonprofit association of contractors, or its wholly owned subsidiary that is approved to operate by a county; and
(ii)
on behalf of a contractor for the purpose of satisfying:
(1)
county bond requirements for public improvements; or
(2)
other county bond requirements.
(3)
“Contractor” means a person that, for a fixed price, commission, fee, or percentage, undertakes to bid on or accepts or offers to accept orders or contracts to perform or supervise the construction, improvement, or maintenance of a building, structure, or road.
(b)
This article does not apply to a certificate of guarantee.
(c)
A county:
(1)
may honor certificates of guarantee; but
(2)
is not required under this article to honor certificates of guarantee.