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Ch. 517
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2002 LAWS OF MARYLAND
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(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 cancelled, 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.]
13-604.
(a) A private detective agency that employs 5 or more individuals as private
detectives OR A FIRM shall:
(1) maintain [general] PROFESSIONAL COMMERCIAL GENERAL liability
insurance in an amount not less than [$100,000] $1,000,000, INCLUDING ERRORS AND
OMISSIONS COVERAGE AND COMPLETED OPERATIONS WITH A $1.000,000 TOTAL
AGGREGATE; and
(2) submit proof of the required insurance to the Secretary.
(b) (1) If an applicant for a license intends to employ 5 or more individuals
as private detectives, 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 private detective agency under this section
is cancelled, forfeited, or otherwise terminated, both the private detective agency and
the insurer shall notify the Secretary.
(D) IF A PRIVATE DETECTIVE AGENCY FAILS TO MAINTAIN THE LIABILITY
INSURANCE REQUIRED UNDER THIS SECTION, THE LICENSE OF THE PRIVATE
DETECTIVE AGENCY:
(1) IS SUSPENDED AUTOMATICALLY;
(2) SHALL REMAIN SUSPENDED UNTIL THE AGENCY COMPLIES WITH
THE REQUIREMENTS UNDER SUBSECTION (A) OF THIS SECTION; AND
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- 3946 -
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