Md. Code, Commercial Law § 24-204
This is the official text of Md. Code, Commercial Law § 24-204, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§24–204.
Official statutory text
(a) The court may:
(1) Require a receiver to post a bond or security with the court;
(2) Authorize a receiver to act without posting a bond or other security; or
(3) Authorize a receiver to act before the receiver posts any bond required by the court.
(b) If a court requires a bond to be posted under subsection (a) of this section, the bond shall be:
(1) Conditioned on the faithful discharge of the receiver’s duties;
(2) With one or more sureties approved by the court;
(3) In an amount the court specifies; and
(4) Effective as of the date of the receiver’s appointment.
(c) The court may also authorize a receiver to act without posting a bond or other security.
(1) Require a receiver to post a bond or security with the court;
(2) Authorize a receiver to act without posting a bond or other security; or
(3) Authorize a receiver to act before the receiver posts any bond required by the court.
(b) If a court requires a bond to be posted under subsection (a) of this section, the bond shall be:
(1) Conditioned on the faithful discharge of the receiver’s duties;
(2) With one or more sureties approved by the court;
(3) In an amount the court specifies; and
(4) Effective as of the date of the receiver’s appointment.
(c) The court may also authorize a receiver to act without posting a bond or other security.
Status: in_force · Read it on the official government site
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