Section 5-569 - Surety - Authority as surety(a) The Authority may execute and perform a bid bond, performance bond, and payment bond as a surety for the benefit of a principal in connection with a contract financed by the federal government or a state government, a local government, a private entity, or a utility regulated by the Public Service Commission.(b)(1) This subsection does not apply if the sources of funding for the bonds are grants.(2) The bonds may not exceed $2,500,000 each.(c) Bonds are subject to the approval of the Authority based on the bond worthiness of the principal.Amended by 2015 Md. Laws, Ch. 106,Sec. 1, eff. 7/1/2015.