Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 15-103: (a) (1) Except as provided in paragraph (2) of this subsection, a surety bond required of a licensee under this title shall be for the benefit of the Administration and any other person who suffers any loss because of a violation by the licensee, his agents, or employees of those provisions of the M
What this law says, in plain English
This statute establishes that surety bonds protect the Administration and persons harmed by licensee violations or warranty breaches. License suspension occurs automatically if the bond lapses without timely renewal.
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