Md. Code Regs. 24.05.09.09

Current through Register Vol. 51, No. 22, November 1, 2024

Section 24.05.09.09 - False Statements or Reports

A. A person may not knowingly make or cause any false statement or report to be made:

(1) In any application or in any document furnished to the Authority;

(2) For the purpose of influencing the action of the Authority on an application for assistance or for the purpose of influencing any action of the Authority affecting bonding assistance whether or not the assistance may have already been extended.

B. A person who violates any provision of this regulation is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000, or imprisonment not exceeding 6 months, or both.

C. In addition, any surety that knowingly makes or causes to be made any material misstatement of fact, whether in the nature of an understatement or overstatement of financial condition or any other fact material to the Authority's action in any statement or report in or regarding an application for a bond guaranty or affecting a bond guaranty already made, shall be subject to immediate termination of the bond guaranty.

Md. Code Regs. 24.05.09.09