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2021 Maryland Statutes
State Government
Title 9 - Miscellaneous Executive Agencies
Subtitle 1 - State Lottery and Gaming Control Agency
Section 9-114 - Surety Bond; Irrevocable Letter of Credit, etc., of Licensed Agent
Universal Citation: MD. State Government Code Ann. § 9-114 (2021)
(a) The Director may require any lottery agent granted a license to post either an appropriate surety bond, irrevocable letter of credit, or cash security deposit in the amount that the regulations of the Agency set.
(b) (1) In lieu of a surety bond, irrevocable letter of credit, or cash security deposit, the Agency, at the discretion of the Director, may provide a blanket bond covering all or selected agents in accordance with the availability of bonds and the financial status of an individual or a corporation.
(2) A bond provided by the Agency shall be:
(i) provided at the agent’s expense; and
(ii) based upon a financial evaluation of the agent conducted by the Director.
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