Ch. 13 1997 LAWS OF MARYLAND

(f) The staff for the Advisory Council will be provided by the Institute.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved April 8, 1997.

CHAPTER 13
(Senate Bill 112)

AN ACT concerning

Charitable Solicitation - Professional Solicitors

FOR the purpose of providing that a bond or irrevocable letter of credit filed by a person
applying to register as a professional solicitor may be returned to the person only
under certain circumstances; requiring the Secretary of State to include a certain
notice with an application for registration as a professional solicitor; and generally
relating to professional solicitors.

BY repealing and reenacting, with amendments,
Article - Business Regulation
Section 6-303

Annotated Code of Maryland

(1992 Volume and 1996 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Business Regulation

6-303.

(a) (1) Except as provided in subsection (c) of this section, on applying for
registration as a professional solicitor, an applicant shall execute and submit to the
Secretary of State a bond in the sum of $25,000, with surety that the Secretary of State
approves.

(2) The bond shall run to the State for the use of the State and each person
who may have a cause of action against the applicant for loss resulting from malfeasance,
nonfeasance, or misfeasance in the applicant's charitable solicitation.

(3) The applicant shall keep the bond in force as long as the registration is

in effect.

(b) An applicant for registration as a professional solicitor shall submit a
consolidated bond for all of the officers, agents, members, associate solicitors,
subcontractors, and employees of the professional solicitor.

- 372 -