<section article="gin" article_name="Insurance" number="21-101" title_number="21" title_name="Surety Insurance" subtitle_number="1"> <level label="a"> <text>A surety insurer qualified to act as surety or guarantor under this article may execute:</text> <level label="1"> <text>a bond, undertaking, recognizance, or other obligation that is required or allowed to be made, given, tendered, or filed with a surety by law or in the charter, ordinances, rules, or regulations of a municipal corporation, board, body, organization, court, judge, or public officer; and</text> </level> <level label="2"> <text>a guaranty of the performance of an act, duty, or obligation, or the refraining from an act, that is required or allowed to be guaranteed.</text> </level> </level> <level label="b"> <text>The execution by a qualified surety insurer of a bond, undertaking, recognizance, obligation, or guaranty is in full compliance with each requirement of each law, charter, ordinance, rule, or regulation that:</text> <level label="1"> <text>the bond, undertaking, recognizance, obligation, or guaranty shall be executed by a surety; or</text> </level> <level label="2"> <text>the surety shall be a resident, householder, or freeholder, or either or both, or shall have any other qualifications.</text> </level> </level> <level label="c"> <text>Each court, judge, department head, board, body, municipal corporation, and public officer shall accept a bond, undertaking, recognizance, obligation, or guaranty executed by a qualified surety insurer and treat it as conforming to and fully complying with each requirement of each applicable law, charter, ordinance, rule, or regulation.</text> </level> <level label="d"> <text>A surety insurer may be released from its liability on a bond, undertaking, recognizance, obligation, or guaranty executed under subsection (a) of this section on the same terms and conditions provided by law for the release of an individual surety.</text> </level> </section> <section article="gin" article_name="Insurance" number="21-102" title_number="21" title_name="Surety Insurance" subtitle_number="1"> <text>A certificate of authority, or certified copy of a certificate of authority, issued by the Commissioner to a surety insurer shall be accepted as evidence of qualification to become sole surety on a bond, undertaking, recognizance, or other obligation required or allowed by law, or in the charter, ordinances, rules, or regulations of a municipal corporation, board, organization, court, judge, or public officer, without further proof or qualification regarding solvency, credit, or financial sufficiency to act as a surety.</text> </section> <section article="gin" article_name="Insurance" number="21-103" title_number="21" title_name="Surety Insurance" subtitle_number="1"> <level label="a"> <text>A surety insurer that is removed by the District Court from the list of surety insurers eligible to post bonds with the court because that surety insurer failed to timely resolve or satisfy one or more bail bond forfeitures appearing on the District Court’s list of absolute bond forfeitures in default shall be subject to the penalties under § 4–113 of this article.</text> </level> <level label="b"> <text>A surety insurer that is precluded or removed by a circuit court from the list of surety insurers eligible to post bonds with any circuit court because that surety insurer failed to timely resolve or satisfy one or more bail bond forfeiture judgments shall be subject to the penalties under § 4–113 of this article.</text> </level> <level label="c"> <text>Within 14 days after the failure of a surety insurer to resolve or satisfy all bond forfeitures in default by the District Court’s or circuit court’s deadline, the clerk of the applicable court shall notify the Commissioner, in writing, of the name of that surety insurer and each bond forfeiture that was not resolved or satisfied by the applicable court’s deadline.</text> </level> </section>