MD SB922

Requires sellers of travel and independent agents operating in Maryland to file annual evidence of financial security with the Department of Labor, along with a $300 filing fee

Establishes tiered surety bond requirements based on annual gross income: $10,000 bond for income under $200,000, scaling up to $50,000 bond for income of $1,000,000 or more

Allows alternatives to surety bonds, including certificates of deposit, irrevocable letters of credit, $1,000,000 in professional liability insurance, or $50,000 cash/securities deposit

Bonds and security deposits protect consumers who suffer monetary losses from fraud, misrepresentation, breach of contract, or financial failure by travel service providers

Violations constitute misdemeanors punishable by fines up to $10,000 for individuals ($50,000 for repeat offenses) and up to $50,000 for business entities ($100,000 for repeat offenses), effective October 1, 2025