Bill > SB922

This bill establishes new regulations for travel service providers in Maryland, requiring sellers of travel and independent agents to file annual financial security documentation with the Department of Labor. Under the bill, these businesses must submit either a surety bond, cash performance bond, certificate of deposit, letter of credit, professional liability insurance, or other financial security, with the amount varying based on their annual gross income in the state (ranging from $10,000 for businesses earning less than $200,000 to $50,000 for businesses earning $1,000,000 or more). The financial security is designed to protect consumers from potential fraud, misrepresentation, contract breaches, or financial failures by travel service providers. Businesses must pay a $300 annual filing fee and submit a list of affiliated independent agents. The bill defines key terms like "seller of travel" and "independent agent," and establishes penalties for non-compliance, including fines up to $10,000 for individuals and $50,000 for businesses on first offenses, with increased fines for subsequent violations. The Consumer Protection Division of the Attorney General's Office and the Department of Labor are tasked with providing notice about these requirements and enforcing the regulations. The bill will take effect on October 1, 2025.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0922?ys=2025RS