§ 24-204. Bond or security.

MD Comm L Code § 24-204 (2019) (N/A)
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(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.