§ 24-204
123 words·~1 min read·
/md/commercial-law/24-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§24–204.
(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.