(a) In addition to the bond required under § 5-102 of this subtitle, the State Treasurer shall be covered by a surety bond as required in this section.

(b) The surety bond under this section shall:

(1) be conditioned on the faithful performance of the duties of the State Treasurer as custodian of the Unemployment Insurance Fund;

(2) run to the State;

(3) be in an amount that the Secretary approves; and

(4) be in a form required by law or approved by the Attorney General.