THEODORE R. McKELDIN, GOVERNOR                   829

(1951 Edition), title "Banks and Trust Companies", sub-title
"Industrial Finance Companies", relating to the license fee and
examination fees of Industrial Finance Companies.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 169 and Section 188 of Article 11 of the Annotated
Code of Maryland (1951 Edition), title "Banks and Trust Com-
panies", sub-title "Industrial Finance Companies", be and they are
hereby repealed and re-enacted, with amendments and to read as
follows:

169. (Application and Fee.) Application for a license shall be in
writing, under oath, and in the form prescribed by the Commissioner.
The application shall give the exact location where the business is
to be conducted and shall contain such further relevant information
as the Commissioner may require including the names and addresses
of the partnership, corporation, officers, directors, or trustees, and
of such of the principal owners or members as will provide the basis
for the investigations and findings contemplated by Section 170 of
this sub-title. At the time of making such application, the applicant
shall pay to the Commissioner the sum of Fifty Dollars ($50) as a
fee for investigating the application, and the sum of [One Hundred
and Fifty Dollars ($150)] Two Hundred Dollars ($200) as a license
fee for the period ending on the last day of the current calendar year;
provided that if the license is granted after June 30 in any year; the
license fee shall be Seventy-five Dollars ($75).

188. (Examinations of Licensees.) At least once each eighteen
(18) months, or more often if previous examinations have indicated
willful or knowing violations of this sub-title, the Commissioner or
his duly appointed Deputy or Examiner, shall make an examination
of the place of business of each licensee and of the loans, transactions,
books, papers, and records of such licensee so far as they pertain to
the business licensed under this sub-title. The actual cost of ex-
amination shall be paid to the Commissioner by each licensee so
examined provided, however, the cost of each separate and complete
examination shall not exceed [Fifty Dollars ($50)] One Hundred
Dollars ($100); and the Commissioner may maintain an action for
the recovery of such costs in any court of competent jurisdiction.

(A) (Investigations.) for the purpose of discovering violations
of this sub-title or of securing information lawfully required here-
under, the Commissioner or his duly authorized representative may
at any time investigate the business and examine the books, accounts,
papers, and records used therein, of (1) any licensee, (2) any other
person engaged in the business described in Section 165 of this sub-
title or participating in such business as principal, agent, broker, or
otherwise, and (3) any person whom the Commissioner has rea-
sonable cause to believe is violating any provision of this sub-title,
whether or not such person shall claim to be within the authority or
beyond the scope of this sub-title. for purposes of this section, any
person who shall advertise for, solicit, or hold himself out as willing
to make loan transactions in the amount of or of the value of Fifteen
Hundred Dollars ($1,500) or less shall, unless legally exempt here-
under, be presumed to be engaged in the business described in Section
165 of this sub-title. If such investigation discloses the person