{"data":{"id":"us-md/md.-code-economic-development-5-569","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 5–569","heading":"","body":"(a) The Authority may execute and perform a bid bond, performance bond, and payment bond as a surety for the benefit of a principal in connection with a contract financed by the federal government or a state government, a local government, a private entity, or a utility regulated by the Public Service Commission.\n(b) (1) This subsection does not apply if the sources of funding for the bonds are grants.\n(2) The bonds may not exceed $2,500,000 each.\n(c) Bonds are subject to the approval of the Authority based on the bond worthiness of the principal.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=5-569","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"29c3ac814054da28204cb0a763e6eaa2d506ded2af166ef9c6b31929b4de1bbb","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-5-568","next":"us-md/md.-code-economic-development-5-570"},"notice":"GroundRules: Original legal text. Not legal advice."}