§ 24-204

Maryland § 24-204

• Jurisdiction: Maryland
• Article gcl: Commercial Law
• Title: 24

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.