§ 17–101

Statutes in effect as of October 1, 2026.

Md. Code Ann., State Fin. & Proc. § 17-101 (2026)

Title 17. Special Provisions -- State and Local Subdivisions

Subtitle 1. Security for Construction Contracts

(a)

In this subtitle the following words have the meanings indicated.

(b)

“Payment security” means security to guarantee payment for labor and materials, including leased equipment, under a contract for construction.

(c)

“Performance security” means security to guarantee the performance of a contract for construction.

(d)

“Public body” means:

(1)

the State;

(2)

a county, municipal corporation, or other political subdivision;

(3)

a public instrumentality; or

(4)

any governmental unit authorized to award a contract.

(e)

(1)

“Supplier” means a person who supplies labor or materials.

(2)

“Supplier” includes a lessor of equipment to the extent of the fair rental value of the equipment.