Maryland § 3-2B-06
Full text of Maryland Maryland Code § 3-2B-06, with citation guidance and answers to common questions.
§ 3-2B-06.
(a) Unless the arbitration agreement provides otherwise, the arbitral tribunal in an international commercial arbitration in this State may, at the request of a party and after an opportunity for any other party to the arbitration agreement to be heard, order any party to post security or countersecurity in a form satisfactory to the arbitral tribunal in an amount not to exceed the amount of that party’s claim, cross-claim, or counterclaim (excluding attorneys’ fees) if:
(1) The party to be required to post security or countersecurity resides in a country that has not ratified and adopted the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards and does not have sufficient assets in the United States to satisfy the amount of the claim or counterclaim; or
(2) The arbitral tribunal otherwise determines that there is good cause to require security or countersecurity.
(b) (1) On motion of a party to a circuit court to vacate or modify an order for security or countersecurity, a hearing shall be held promptly.
(2) Unless the party required to post security or countersecurity establishes that an order for security or countersecurity is an abuse of discretion by the arbitral tribunal, the courts of this State shall enforce orders for security or countersecurity.
Frequently Asked Questions About Maryland § 3-2B-06
What does Maryland Code § 3-2B-06 cover?
Section 3-2B-06 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 3-2B-06?
A common citation format is "Maryland Code § 3-2B-06" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 3-2B-06 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.