874                              Laws of Maryland                      [Ch. 597

"Commissioner" shall mean the Bank Commissioner of Maryland
or the Deputy Bank Commissioner of Maryland.

209.    (Scope.) On and after June 1, 1959, JANUARY 1, 1960,
no person to whom this sub-title applies shall engage in the business
of selling or issuing checks, drafts and/or money orders for a fee or
service charge, except as provided in and authorized by or exempted
therefrom by this sub-title, without first having obtained a license
from the Commissioner.

210.  (Exemptions.) This sub-title shall not apply to any banking
institution incorporated under the Laws of this State, National
banks organized pursuant to the Laws of the United States, build-
ing and loan and/or savings and loan associations or credit unions;
nor to any person who sells checks, drafts and/or money orders for
and on behalf of an exempt institution on trust receipt from such
institution for the specific purpose of sale; nor to the Government
of the United States or any Department or Agency thereof; nor to
the receipt of money by an incorporated telegraph company or duly
authorized agent thereof for immediate transmission by telegraph;
nor to any person presently engaged in the business of selling or

issuing checks, drafts, and/or money orders for a fee or service

charge, having a net worth of at least $500,000., as evidenced by a

financial statement duly certified by a Certified Public Accountant
and acceptable to the Commissioner; but nothing in this sub-title
shall act as a bar to prevent any such person from applying, qualify-
ing for and receiving a license and operating hereunder.

211.   (Licenses Required.) On and after June 1, 1959, JANUARY
1, 1960, no person, firm, association, partnership or corporation to
which this sub-title applies shall engage in the business of selling or
issuing checks, drafts and/or money orders, for a fee or service
charge, under his or their or its name, without first securing a license
to do so from the Commissioner, as required herein.

212.  (Licenses: Applications; Fees; Bond.) Application for such
license shall be in writing, under oath, on a form to be prescribed by
the Commissioner. Each application shall contain the following in-
formation.

(1)   The full name and address (both of residence and place of
business) of the applicant, and if the applicant is a partnership or
association, of every member thereof, and the name and business
address if the applicant is a corporation, as well as the officers and
directors thereof, except that if the applicant is a joint stock as-
sociation having one hundred (100) or more members or share-
holders the names and business addresses need be given only of the
association and of each officer and director thereof.

(2)  The county, city, town or village with the street number, if
any, where the seller or issuer is to transact such business. At the
time of the filing of an application with the Commissioner, said ap-
plicant shall set forth the name and business address of every agent
authorized to conduct and transact the business set forth in this
sub-title, on behalf of such applicant. Each person specified in such
certificate shall be the designated agent of the applicant for all pur-
poses in connection with the applicant's licensed business. Every
licensee shall also file under oath a supplemental statement setting