Ch. 602

1996 LAWS OF MARYLAND

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 SECRETARY
WITH THE LICENSE APPLICATION.

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

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

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

19-504.

(A)    A SECURITY GUARD AGENCY THAT EMPLOYS FIVE OR MORE
INDIVIDUALS AS SECURITY GUARDS SHALL:

(1)     MAINTAIN GENERAL LIABILITY INSURANCE IN AN AMOUNT NOT
LESS THAN $100,000; AND

(2)     SUBMIT PROOF OF THE REQUIRED INSURANCE TO THE SECRETARY.

(B)     (1) IF AN APPLICANT FOR A LICENSE INTENDS TO EMPLOY FIVE OR
MORE INDIVIDUALS AS SECURITY GUARDS, THE APPLICANT SHALL SUBMIT PROOF
OF THE LIABILITY INSURANCE REQUIRED UNDER SUBSECTION (A) OF THIS SECTION
TO THE SECRETARY WITH THE LICENSE APPLICATION.

(2) THE SECRETARY MAY NOT ISSUE A LICENSE TO AN APPLICANT TO
WHOM THE INSURANCE REQUIREMENTS OF THIS SECTION WOULD APPLY UNLESS
THE APPLICANT SUBMITS PROOF OF THE INSURANCE.

(C) IF THE INSURANCE REQUIRED FOR A SECURITY GUARD AGENCY UNDER
THIS SECTION IS CANCELED, FORFEITED, OR OTHERWISE TERMINATED, BOTH THE
SECURITY GUARD AGENCY AND THE INSURER SHALL NOTIFY THE SECRETARY.

19-505.

(A) A NONRESIDENT APPLICANT FOR A LICENSE SHALL SUBMIT TO THE
SECRETARY OF STATE A CONSENT, AS PROVIDED UNDER THIS SECTION.

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