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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 3348   View pdf image (33K)
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3348 ARTICLE 90

to account and file a new bond as directed therein, the court shall remove
such fiduciary and appoint a successor in the trust, who shall be authorized
to proceed against such fiduciary and his bond for the recovery of the
estate. The cost of proceeding under this section shall be taxed in the
discretion of the court; provided that the court before releasing such surety
shall adjudge what proportion, if any, of the money paid such surety for
going on such bond shall be returned to the estate or party paying the same.

An. Code, 1924, see. 7. 1912, sec. 7. 1906, ch. 409.

7. Any surety or the personal representative of any surety, upon the
official bond of any State, county, municipal or other public officer who
is, by the constitution of the State of Maryland, or by any law, ordinance,
rule or regulation, required to give such bond, may be discharged from
further liability as such surety upon application by petition to the court,
judge, officer, board or other person or persons or body having authority
to approve such bond, who shall thereupon immediately, by order reciting
such application, require such public offcer to furnish a new bond in the
same manner as if none had ever been given by him within thirty days after
personal service of such order. Such personal service made either within
or without the State of Maryland by the said court, judge, officer, board
or other person or persons or body, or by any person authorized by them or
at their request, by the surety or any agent or representative of the surety.
When such new bond is given and approved, according to law, in com-
pliance with said order, the surety on the prior bond shall remain liable
for acts or defaults occurring prior thereto, but shall be discharged from
all further liability from the acts or defaults of said officer which may be
done or committed subsequent to the approval of such new bond. The
office of any such State, county, municipality or other public officer shall
become vacant at the expiration of thirty days from personal service as
aforesaid, if the said officer shall not have complied with such order by
filing new bond, and the said vacancy shall be filled as provided by law in
case of death, resignation or removal; this provision shall be mandatory.

An. Code, 1924, sec. 8. 1912, sec. 8. 1906, ch. 453.

8. When the surety or sureties on the bond of any bank used as a
depository for the funds of the State by the state treasurer shall notify the
governor and the state treasurer of their or its desire to be relieved from
further liability as such surety, the state treasurer may, in his discretion,
immediately demand of such bank a new bond with good and sufficient
surety or sureties; if such bank shall not within thirty days after service
of notice upon it by the state treasurer furnish new bond with good and
sufficient surety or sureties to be approved by the governor, it shall be
the duty of the state treasurer to immediately withdraw all moneys of the
State deposited with the said bank. Upon the approval and acceptance by
the governor of the above mentioned new bond, and upon the payment of
all moneys then due by such bank to the State, petitioning surety or
sureties shall be released from any further liability on the bond executed
by him, it or them.

In the case of a continuing bond given to protect state deposits, a surety has the right
to be relieved from liability on notifying the state treasurer to that effect, who shall
thereupon withdraw the deposits unless bank furnishes new bond. Banking Co. v.
Fid. & Dep. Co., 165 Md. 657.


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The Annotated Code of the Public General Laws of Maryland, 1939
Volume 379, Page 3348   View pdf image (33K)
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