Ch. 3

LAWS OF MARYLAND

REVISOR'S NOTE: This section formerly appeared as Art. 56,
§ 592.

The only changes are in style.

Defined terms: "Firm" § 13-101

"License" § 13-101

"Licensed private detective agency" § 13-101

"Private detective agency" § 13-101

"Representative member" § 13-101

"Superintendent" § 13-101

SURETY BONDS.

IN GENERAL.

(1)  SUBJECT TO THIS SECTION, AN APPLICANT FOR A
LICENSE SHALL EXECUTE A BOND THAT IS CONDITIONED ON THE FAITHFUL
AND HONEST CONDUCT OF THE APPLICANT AND RUNS TO THE STATE FOR THE
BENEFIT OF ANY PERSON INJURED BY ANY WRONGFUL ACT OF THE
APPLICANT THAT IS WILLFUL OR MALICIOUS.

(2)  THE APPLICANT SHALL SUBMIT THE BOND TO THE
SUPERINTENDENT WITH THE LICENSE APPLICATION.

(B)  MINIMUM COVERAGE; LIMITATION ON SURETY'S LIABILITY.

(1)  THE AMOUNT OF THE BOND REQUIRED UNDER SUBSECTION
(A) OF THIS SECTION SHALL BE AT LEAST:

(I)  $3,000, IF THE APPLICANT IS AN INDIVIDUAL;
OR

(II)  $5,000, IF THE APPLICANT IS A FIRM.

(2)  THE TOTAL LIABILITY OF THE SURETY TO ALL INSURED
PERSONS UNDER THE BOND MAY NOT EXCEED THE PENAL SUM OF THE BOND.

(C)  CONTINUING REQUIREMENT.

A LICENSEE SHALL KEEP IN EFFECT AT ALL TIMES A BOND THAT
MEETS THE REQUIREMENTS OF THIS SECTION.

(D)  SURETY'S RESPONSIBILITY TO NOTIFY SUPERINTENDENT ON
TERMINATION OF BOND.

(1)   IF A LICENSEE'S BOND IS CANCELLED, FORFEITED, OR
TERMINATED BY THE SURETY, THE SURETY IMMEDIATELY SHALL NOTIFY THE
SUPERINTENDENT.

(2)   IF A SURETY FAILS TO NOTIFY THE SUPERINTENDENT AS
REQUIRED BY THIS SUBSECTION, THE BOND SHALL CONTINUE IN EFFECT
UNTIL THE NOTICE IS GIVEN TO THE SUPERINTENDENT.

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13-603.
(A)