Md. Code Regs. 29.04.05.14

Current through Register Vol. 51, No. 25, December 13, 2024

Section 29.04.05.14 - Employer Bond or Insurance

A. In order to obtain a license, an applicant shall execute a fidelity bond as provided in §B of this regulation or maintain general liability insurance as provided §C of this regulation.

B. Fidelity Bond.

(1) The amount of the fidelity bond shall be at least $50,000.

(2) The bond shall cover all individuals who are licensed to provide security system services, registered as security systems technicians, have access to circumventional information, or are applicants for a license or registration.

(3) If the fidelity bond is canceled, forfeited, or terminated by the surety, the:

(a) Surety shall immediately notify the Secretary; and

(b) Fidelity bond shall continue in effect until the Secretary is notified.

C. General Liability Insurance.

(1) The amount of the general liability insurance shall be at least $50,000.

(2) If the insurance is canceled, the insured shall immediately notify the Secretary.

D. In addition to the penalties set forth in Regulation .18 of this chapter, a court of competent jurisdiction may enjoin the operation of an employer who violates the requirements of this chapter.

Md. Code Regs. 29.04.05.14

Regulations .14 adopted as an emergency provision effective November 18, 1994 (21:25 Md. R. 2101); Emergency status expired May 1, 1995 (Emergency provisions are temporary and not printed in COMAR)
Regulations .14 adopted effective February 24, 1997 (24:4 Md. R. 295)
Regulations .14, Licensing Security Systems Technicians and Registering Sellers of Security Systems, repealed effective April 20, 1998 (25:8 Md. R. 600)
Regulations .14, Security Systems Agencies and Technicians_Licensing and Registration, adopted effective April 20, 1998 (25:8 Md. R. 600)