EMERSON C. HARRINGTON, GOVERNOR, 199

conducted. Every such applicant, at the time of making such
application, shall pay to the Bank Commissioner the sum of
fifty dollars ($50) as an annual license fee and in full pay-
ment of all expenses of examinations under, and administra-
tion of this Act; provided, that if the license is issued for a
period of less than twelve months the license fee shall be pro-
rated according to the number of months that said license shall
run.

SEC. 3. The applicant shall also, at the same time, file with
the Bank Commissioner a bond in which the applicant shall
be the obligor, in the sum of one thousand dollars ($1, 000)
with one or more sureties to be approved by said Bank Com-
missioner, which bond shall run to the State of Maryland for
'the use of the State and of any person or persons who may
have a cause of action against the obligor of said bond under
the provisions of this Act. Such bond shall be conditioned
that said obligor will conform to and abide by each and every
provision of this Act, and will pay to the State, and to any
such person or persons, any and all moneys that may become
due or owing to the State and to such person or persons from
said obligor, under and by virtue of the provisions of this Act.

SEC. 4. Upon the filing of such application and the ap-
proval of said bond and the payment of said fee, the Bank
Commissioner shall issue a license to the applicant to make
loans in accordance with the provision of this Act for a period
which shall expire the first day of May next following the date
of its issuance. Such license shall not be assignable.

SEC. 5. If in the opinion of the Bank Commissioner the
bond shall at any time appear to be insecure or exhausted, or
otherwise doubtful, an additional bond in the sum of not more
than one thousand dollars ($1, 000) satisfactory to the Bank
Commissioner shall be filed and upon failure of the obligor to
file such additional bond, the license shall be revoked by the
Bank Commissioner.

SEC. 6. The Bank Commissioner may, upon notice to the
licensee and reasonable opportunity to be heard, revoke such
license if the licensee has violated any provision of this Act;
and in case the licensee shall be convicted by a Court a second
time of a violation of section fourteen (14) of this Act the
Bank Commissioner shall revoke such license; provided that
the second offense shall have occurred after a prior conviction,
in which case another license shall not be issued to such licensee.