(a) In this section, “individual surety” means a person that:
(1) issues surety bonds or contracts of surety insurance; and
(2) does not have a certificate of authority issued by the Commissioner.
(b) It is a fraudulent insurance act for an individual surety to solicit or issue a surety bond or contract of surety insurance except as provided in:
(1) §§ 13–207 and 17–104 of the State Finance and Procurement Article; and
(2) for an uncompensated person, §§ 5–203 and 5–204 of the Criminal Procedure Article.
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