Md. Code, Insurance § 10-206
Md. Code, Insurance § 10-206
in effectAn applicant for a license shall file with the Commissioner a bond that:
(1) is approved by the Commissioner as to form and sufficiency of security;
(2) is executed by the applicant and an authorized surety insurer;
(3) is in the penal sum of $1,000;
(4) is conditioned on the applicant faithfully performing the duties of an adviser;
(5) runs to the State; and
(6) specifically authorizes the State to recover the penal sum of the bond if the applicant is guilty of fraudulent or dishonest practices while acting as an adviser.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin§ion=10-206&enactments=falseFetched: 10/17/2026