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BUSINESS
By Ross Hetrick | December 14, 1991
A judge has upheld a fine and an order for restitution against Dean A. Manson, a former officer of a defunct Silver Spring surety company that was charged with operating without the proper state licenses.The order, issued earlier this week by Baltimore Circuit Judge David Ross, affirms a May administrative decision by Insurance Commissioner John A. Donaho, who fined Mr. Manson, Stephen R. Woods and United Capital Exchange $231,500 and ordered them to pay $14,000 to three subcontractors for damages.
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NEWS
By Frederick N. Rasmussen, The Baltimore Sun | July 23, 2012
Brian E. Wilcox, a surety bond expert and former partner in HMS Insurance Associates, was killed Wednesday in an automobile accident in Lenox Township, Pa. The longtime Lutherville resident was 56. Mr. Wilcox, who was driving a Lexus convertible, was en route to his hometown of Homer, N.Y., to visit his elderly father when he was involved in a seven-car chain reaction crash, after a tractor-trailer hit cars stopped in a construction area on...
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BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | May 24, 1991
Maryland Insurance Commissioner John A. Donaho has approved a fine of $231,500 against United Capital Exchange Inc., a defunct Silver Spring surety company, and its two principals, Stephen R. Woods and Dean A. Manson, for operating in the state without the proper state licenses. United Capital went out of business in 1989.Earlier this month, federal prosecutors in Baltimore filed criminal charges against seven men connected to United Capital and another company, United Funding & Investment, in Bethesda.
EXPLORE
May 21, 2012
Stephanie Posey and Ryan Dougherty were joined in marriage on Feb. 11, at Corpus Christi Roman Catholic Church, in Baltimore. The Rev. Martin H. Demek celebrated the nuptial Mass. The bride is the daughter of J. Steven and Debra Posey, of La Plata. The groom is son of Thomas and Robin Dougherty, of Parkville. Presented in marriage by her father, the bride was attended by her close friend, Cara Myers, matron of honor. Bridesmaids were Brianna Twait, Caitlin Dougherty, Amy Ziegler, Jessica Watts, Taryn Igoe, Megan Loewe, and Stephanie Cox. Best men were Kevin Stern and James Hardesty.
NEWS
By Kelly Gilbert and Kelly Gilbert,Evening Sun Staff | May 10, 1991
Federal prosecutors in Baltimore have filed criminal charges against seven men connected to two former Maryland surety brokerages that secured bonding for contractors and subcontractors involved in government construction work.The false statement, false claims and wire fraud charges are contained in grand jury indictments against the seven, who are out-of-state businessmen and self-styled entrepreneurs.Assistant U.S. Attorneys Susan M. Ringler and Stuart A. Berman said the indictments are the products of a continuing investigation by the FBI, the Army Criminal Investigation Command, the Defense Criminal Investigative Service and the inspectors general of several federal departments.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | March 22, 1998
Although escrow accounts may be one of the more popular ways builders handle deposits from homebuyers, surety bonds and letters of credit also can be used.There are pros and cons to each, according to John Nethercut, assistant attorney general in the Consumer Protection Division. "The bond or the letter of credit are good in the sense that they are, unlike a bank account, easier to get at and verify," Nethercut said."The good thing about the bonds and letters of credit is that they are publicly filed; the bad thing is that there may not be 100 percent recovery," he said.
BUSINESS
By Patrick Rossello | February 4, 1991
As a small company, your firm may find it impossible to compete for contracts awarded by government agencies or public utilities because they always require a surety bond. The Maryland Small Business Development Financing Authority can help you get the performance bonding insurance you need.MSBDFA, a part of the Maryland Department of Economic & Employment Development, has a number of programs to assist companies that are 70-percent owned by minorities or by "economically disadvantaged" persons.
BUSINESS
By Jay Hancock | March 21, 2011
The Rev. David Sul's Korean Seventh-day Adventist Church was supposed to be in business in Columbia by now. The church's 150 members signed a deal, put money down and watched bulldozers roll. But construction stopped in late 2008 and the congregation never recouped its investment — thanks in part, church officials say, because a bond that was supposed to insure the project didn't pay off. The worshippers now borrow a building from a sister church, meeting in the afternoon after the other congregation worships in the morning.
NEWS
August 4, 1993
Robin Debra Cherry of Owings Mills, who was indicted last week on charges of being an accessory after the fact in the Jan. 29 shooting death of a Westminster man, was released on $15,000 bond yesterday after spending less than a day in the county detention center.Ms. Cherry is accused of making four false statements to Westminster police officers, thereby hindering them in their quest for the shotgun authorities believe was used in the slaying of Gregory Lamont Howard, 22.Lt. Dean Brewer of the Westminster Police Department said Ms. Cherry had been uncooperative with investigators in the case, which involved the first homicide in Carroll County this year.
NEWS
By Michael J. Clark and Michael J. Clark,Howard County Bureau of The Sun | January 10, 1991
An Ellicott City health club that sold memberships but never opened must pay restitution to about 450 people who were not fully reimbursed for fees they paid, a Howard County judge ruled yesterday.Circuit Judge James B. Dudley appointed attorney Barry Silber as a special master to determine how much World Gym & Family Fitness Center Inc. owes to individuals who paid part or all of membership fees ranging from $400 to $1,000.Steven Sakomota-Wengel, an assistant attorney general who handled the case, said the company owes about $135,000.
BUSINESS
By Jay Hancock | March 21, 2011
The Rev. David Sul's Korean Seventh-day Adventist Church was supposed to be in business in Columbia by now. The church's 150 members signed a deal, put money down and watched bulldozers roll. But construction stopped in late 2008 and the congregation never recouped its investment — thanks in part, church officials say, because a bond that was supposed to insure the project didn't pay off. The worshippers now borrow a building from a sister church, meeting in the afternoon after the other congregation worships in the morning.
NEWS
By Larry Carson and Larry Carson,sun reporter | July 13, 2007
Business leaders object to some aspects of Howard County Executive Ken Ulman's environmental "green" building bills, which could mean a rougher County Council ride than the smoothly settled compromise of a thorny Elkridge housing dispute. The Howard County Chamber of Commerce is generally supporting Ulman's package of legislation, but the chamber wants amendments that would delay the effective date one year, until July 2009, exempt smaller commercial buildings and remove a requirement that builders be bonded to guarantee that they meet the standards.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | May 7, 1998
Fidelity and Deposit Co. of Maryland and Mountbatten Inc. late yesterday announced a merger agreement in which shareholders of Bala Cynwyd, Pa.-based Mountbatten will receive $14.60 a share in cash to become part of Baltimore-based F&D.Since Mountbatten has about 2.53 million shares outstanding, the deal would have a value of about $36.9 million. That's about a 3 percent premium to its market value of $36.03 million at the close of trading yesterday.That's also less than is often seen in friendly takeovers.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | April 8, 1998
In a 20-minute special shareholders meeting -- punctuated by a near-apology from Chairman Norman P. Blake Jr. -- USF&G stockholders yesterday overwhelmingly voted to approve the $3.5 billion takeover of their company by St. Paul Cos. of St. Paul, Minn.St. Paul shareholders, at a separate meeting later in the day, voted to issue new stock to pay for the transaction, which the firms hope to have completed by the end of this month.After making a brief speech to shareholders at USF&G's Mount Washington headquarters, Blake said he'd had a tough time remaining emotionless during the meeting and sounded almost apologetic about the sale.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | March 22, 1998
Although escrow accounts may be one of the more popular ways builders handle deposits from homebuyers, surety bonds and letters of credit also can be used.There are pros and cons to each, according to John Nethercut, assistant attorney general in the Consumer Protection Division. "The bond or the letter of credit are good in the sense that they are, unlike a bank account, easier to get at and verify," Nethercut said."The good thing about the bonds and letters of credit is that they are publicly filed; the bad thing is that there may not be 100 percent recovery," he said.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 26, 1996
USF&G Corp. said yesterday that it is breaking out two major pieces of its property and casualty operations into distinct groups in an effort to generate growth.The Baltimore-based insurer named Glenn W. Anderson president of the newly formed Commercial Insurance Group, and Robert J. Lamendola president of USF&G's Surety Group."We will be much more agile," said Norman P. Blake Jr., USF&G's chairman and chief executive. "We will be able to move much more quickly."Blake said the businesses have reached the point where they have clear strategies and are generating profits.
EXPLORE
May 21, 2012
Stephanie Posey and Ryan Dougherty were joined in marriage on Feb. 11, at Corpus Christi Roman Catholic Church, in Baltimore. The Rev. Martin H. Demek celebrated the nuptial Mass. The bride is the daughter of J. Steven and Debra Posey, of La Plata. The groom is son of Thomas and Robin Dougherty, of Parkville. Presented in marriage by her father, the bride was attended by her close friend, Cara Myers, matron of honor. Bridesmaids were Brianna Twait, Caitlin Dougherty, Amy Ziegler, Jessica Watts, Taryn Igoe, Megan Loewe, and Stephanie Cox. Best men were Kevin Stern and James Hardesty.
NEWS
By Larry Carson and Larry Carson,sun reporter | July 13, 2007
Business leaders object to some aspects of Howard County Executive Ken Ulman's environmental "green" building bills, which could mean a rougher County Council ride than the smoothly settled compromise of a thorny Elkridge housing dispute. The Howard County Chamber of Commerce is generally supporting Ulman's package of legislation, but the chamber wants amendments that would delay the effective date one year, until July 2009, exempt smaller commercial buildings and remove a requirement that builders be bonded to guarantee that they meet the standards.
NEWS
August 4, 1993
Robin Debra Cherry of Owings Mills, who was indicted last week on charges of being an accessory after the fact in the Jan. 29 shooting death of a Westminster man, was released on $15,000 bond yesterday after spending less than a day in the county detention center.Ms. Cherry is accused of making four false statements to Westminster police officers, thereby hindering them in their quest for the shotgun authorities believe was used in the slaying of Gregory Lamont Howard, 22.Lt. Dean Brewer of the Westminster Police Department said Ms. Cherry had been uncooperative with investigators in the case, which involved the first homicide in Carroll County this year.
BUSINESS
By Ted Shelsby Staff Writer Marina Sarris contributed to this article. and Ted Shelsby Staff Writer Marina Sarris contributed to this article.,Staff Writer | December 29, 1992
Beginning next week, it will be easier for small contractors to obtain the surety bonding needed to compete for government and public utility contracts.Under a program announced yesterday by Gov. William Donald Schaefer, Maryland becomes the second state in the country to offer direct surety bonding to small contractors that cannot obtain the insurance-like backing from private sources. Ohio launched a similar program several years ago.Surety bonds are a form of insurance which guarantees the performance of a contract, such as the construction of a building.
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