Section 5-561 - Definitions. - Maryland Statutes

§ 5-561. Definitions.
 

(a)  In general.- In this part the following words have the meanings indicated. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-1032(a). 

(b)  Fund.- "Fund" means the Small Business Surety Bond Fund. 
   
Revisor's Note.

This subsection formerly was Art. 83A, § 5-1032(d). 
 

No changes are made. 

(c)  Principal.- "Principal" means a small business entity that has assets, income, or employees that do not exceed limits that the Authority sets by regulation. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-1032(e). 
 

The former reference to limits set by "administrative determination" is deleted in light of administrative practice that sets all such limits by regulation. 
  Defined Terms.


 
"Authority"                                                          § 5-501

(d)  Program.- "Program" means the Small Business Surety Bond Program. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83A, § 5-1032(f). 
 

The former phrase "created by this Part VI of this subtitle" is deleted as surplusage. 
 

[An. Code 1957, art. 83A, § 5-1032(a), (d)-(f); 2008, ch. 306, § 2.]