Ch. 48

LAWS OF MARYLAND

(3) OTHER SECURITY THAT IS SATISFACTORY TO THE PUBLIC
BODY AWARDING THE CONTRACT.

REVISOR'S NOTE: This section is new language derived
without substantive change from the references in
former SF § 12-201(a)(1)(i) and (ii) to the type of
security required under that subsection.

In the introductory language of this section, the
general references to payment "security" and
performance "security" are substituted for the former
inaccurate references to payment "bond" and
performance "bond" for clarity since the security may
be a bond, cash, or other security.

Defined terms: "Payment security" § 17-101
"Performance security" § 17-101
"Public body" § 17-101

17-105. FORM OF SECURITY; FILING.

(A)  IN GENERAL.

SECURITY UNDER THIS SUBTITLE:

(1)  IF REQUIRED BY THE STATE OR A UNIT OF THE STATE
GOVERNMENT, SHALL BE PAYABLE TO "THE STATE OF MARYLAND"; OR

(2)  IF REQUIRED BY ANY OTHER PUBLIC BODY, SHALL BE
PAYABLE TO THAT PUBLIC BODY.

(B)  APPROVAL.

THE FORM OF PAYMENT SECURITY OR PERFORMANCE SECURITY SHALL
BE APPROVED:

(1)  FOR THE STATE OR A UNIT OF THE STATE GOVERNMENT,
BY THE ATTORNEY GENERAL; AND

(2)  FOR ANY OTHER PUBLIC BODY, BY ITS ATTORNEY.

(C)  FILING REQUIRED.

THE CONTRACTOR SHALL FILE THE SECURITY OR EVIDENCE OF A
TRUST ACCOUNT ESTABLISHED AS SECURITY:

(1)  IF PAYABLE TO THE STATE UNDER THIS SECTION, IN
THE OFFICE OF THE COMPTROLLER; OR

(2)  IF PAYABLE TO ANY OTHER PUBLIC BODY, IN THE
APPROPRIATE OFFICE OF THAT PUBLIC BODY.

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