|
Effective.
|
SEC. 2. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved April 7, 1 898.
CHAPTER 302.
AN ACT to add certain new sections to Article 23 of the
Code of Public General Laws, title "Corporations " under
the new sub-title "Surety and Fidelity Companies," to fol-
low Section 244, to be designated as Sections 244 A, 244 B
and 244 C.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That three new sections be and the same are
|
|
New sections
added.
|
hereby added to Article 23 of the Code of Public General
Laws, title "Corporations" under the new sub-title "Surety
and Fidelity Companies," to follow Section 244, to be desig-
nated as Sections 244 A, 244 B and 244 e, and to read as fol-
lows :
244 A. Whenever any bond, undertaking, recognizance or
|
|
Executed by
a surety
company.
|
other obligation is by law, or the charter, ordinances, rules or
regulations of any municipality, board, body, organization,
court, judge or public officer, required or permitted to be
made, given, tendered or filed with surety or sureties, and
whenever the performance of any act, duty or obligation, or
the refraining from any act, is required or permitted to be
guaranteed, such bond, undertaking, obligation, recognizance
or guaranty may be executed by a surety company qualified as
hereinafter provided ; and such execution by such company of
such bond, undertaking, obligation, recognizance or guaranty,
shall be in all respects a full and complete compliance with
every requirement of every law, charter, ordinance, rule or
regulation that such bond, undertaking, obligation, recogni-
zance or guaranty shall be executed by one surety or by one or
more sureties, or that such sureties shall be residents or
householders or freeholders, or either or both, or possess any
other qualification ; and all court judges, heads of depart-
ments, boards, bodies, municipalities and public officers of
every character, shall accept and treat such bond, undertaking,
obligation, recognizance or guaranty when so executed by such
company as conforming to and fully and completely complying
with every such requirement of every such law, charter, ordi-
nance, rule or regulation.
|
