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Ch. 299 2006 LAWS OF MARYLAND
CHAPTER 299
(House Bill 169)
AN ACT concerning
Procurement - Bid, Payment, and Performance Security Requirements
FOR the purpose of increasing the maximum amount of the bonds that the Maryland
Small Business Development Financing Authority may issue as a surety for the
benefit of a principal in connection with certain contracts; expanding bid,
payment, and performance security to include a bond provided or executed by an
individual surety if the individual surety provides a security interest in certain
assets at the time the bond is furnished and the individual surety pledges
certain assets in an amount equal to or greater than the aggregate penal
amounts of the bonds required by the solicitation; expanding bid security to
include another form of security satisfactory to a certain public body; expanding
payment and performance security to include another form of security allowed
by regulation; requiring the Procurement Advisor appointed by the Board of
Public Works to report to the Governor and certain committees by certain dates
regarding the implementation of this Act; providing for the application of this
Act; providing for the termination of this Act; and generally relating to bid,
payment, and performance security requirements.
BY repealing and reenacting. with amendments,
Article 83A - Department of Business and Economic Development
Section 5-1035
Annotated Code of Maryland
(2003 Replacement Volume and 2005 Supplement)
BY repealing and reenacting, without amendments,
Article 83A - Department of Business and Economic Development
Section 5-1037
Annotated Code of Maryland
(2003 Replacement Volume and 2005 Supplement)
BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 13-207 and 17-104
Annotated Code of Maryland
(2001 Replacement Volume and 2005 Supplement)
BY repealing and reenacting, without amendments,
Article - State Finance and Procurement
Section 13-208 and 13-216
Annotated Code of Maryland
(2001 Replacement Volume and 2005 Supplement)
- 1674 -
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