WILLIAM DONALD SCHAEFER, Governor Ch. 331

(1985 Replacement Volume and 1989 Supplement)

(As enacted by Chapter 805 of the Acts of the General Assembly of 1989)

BY repealing and reenacting, with amendments,
Article 56 - Licenses
Section 350

Annotated Code of Maryland
(1988 Replacement Volume and 1989 Supplement)

BY repealing and reenacting, with amendments,

Chapter 805 of the Acts of the General Assembly of 1989
Section 4

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

Article - Corporations and Associations

11-206.

(e) The Commissioner [in his discretion] may honor requests from interested
persons for interpretative opinions. THE FEE FOR ISSUANCE OF AN
INTERPRETATIVE OPINION IS $100.

11-407.

(a) (1) Every applicant for initial or renewal registration as a broker-dealer
[or investment adviser] shall pay a filing fee of [$125] $250.

(2) Every applicant for initial OR RENEWAL registration or transfer of
registration as an agent [or investment adviser representative] shall pay a filing fee of
[$25] $35.

[(3) Every applicant for renewal registration as an agent or investment
adviser representative shall pay a filing fee of $20.]

(B) (1) EVERY APPLICANT FOR INITIAL OR RENEWAL
REGISTRATION AS AN INVESTMENT ADVISER SHALL PAY A FILING FEE
OF $300.

(2) EVERY APPLICANT FOR INITIAL OR RENEWAL
REGISTRATION OR TRANSFER OF REGISTRATION AS AN INVESTMENT
ADVISER REPRESENTATIVE SHALL PAY A FILING FEE OF $50.

[(b)] (C) The Commissioner by rule may waive the application of the filing fee
requirements set forth in subsection [(a)(2) and (3)] (B) of this section to those persons
registered as investment adviser representatives pursuant to § ll-405(b) of this subtitle.

[(c)] (D) If an application is denied or withdrawn, the Commissioner shall retain
the filing fee.

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