Ch. 6 LAWS OF MARYLAND

(b) If any licensee fails to file acceptable evidence that the bond required by this
section has been extended prior to the expiration of the bond, [his] THE LICENSEE'S
dealer's or manufacturer's license automatically is suspended upon expiration of the
bond. The suspension shall terminate when the licensee files with the Department
acceptable evidence of a bond or other security deemed sufficient and adequate by the
Department for the payment of fees and taxes [he] THE LICENSEE receives based
upon [his] THE LICENSEE'S volume of sales and the class of boat dealer's and
manufacturer's license which [he] THE LICENSEE has been issued.

(c) An applicant for a boat dealer's or manufacturer's license who ALSO is
[also] applying for a title service agent's license or a trailer dealer's license with the
Motor Vehicle Administration may file evidence of a bond or other security deemed
adequate and sufficient by both the Motor Vehicle Administration and the Department
with respect to the applicant's obligations and liabilities under this section and § 15-308
or § 15-604 [, as the case may be, ] of the Transportation Article.

8-710. 2.

(b) (1) For any vessel that is to be used principally in Maryland, a licensed
dealer may issue [one] 1 temporary certificate of boat number to the person who buys
the vessel from the dealer.

(2) A dealer may not issue a temporary certificate of boat number unless:

(I) [the] THE taxes and other fees as required by this subtitle are
paid to the dealer; and

(II) [an] AN application for Maryland certificate of boat title and
number or a purchaser's application for transfer of a Maryland certificate of boat title
is completed and signed by the purchaser of the vessel.

(4) The dealer may not issue more than [one] 1 temporary certificate for
any vessel. If the temporary certificate is lost, stolen, or destroyed, the owner must
apply to the Department for a certificate of boat number.

(d) (4) Attainments to the Fund in excess of an accumulated balance of
$100, 000 may be expended by the Department for any purpose authorized under §
8-723 of this subtitle. However, any funds not expended pursuant to this subsection or
§ 8-723 of this subtitle:

(I) [shall] SHALL remain in the Fund; and

(II) [may] MAY not revert to the General Fund.
8-710. 3.

(a) A licensed boat dealer shall collect the excise tax on all sales of vessels to be
titled and numbered and on all sales of vessels to be federally documented to be used in
[this] THE State as required under §§ 8-712 and 8-716 OF THIS SUBTITLE.

(b) A licensed boat dealer who operates a bare-boat charter shall insure that
any owner of a vessel in the fleet of the dealer to be used in [this] THE State has:

- 130 -