Security under this subtitle: if required by the State or a unit of the State government, shall be payable to “the State of Maryland”; or if required by any other public body, shall be payable to that public body. The form of payment security or performance security shall be approved: for the State or a unit of the State government, by the Attorney General; and for any other public body, by its attorney. The contractor shall file the security or evidence of a trust account established as security: if payable to the State under this section, in the Office of the Comptroller; or if payable to any other public body, in the appropriate office of that public body.