250                             LAWS OF MARYLAND                        [CH. 80

of Article 56 of the Annotated Code of Maryland (1957 Edition
AND 1963 SUPPLEMENT), title "Licenses", sub-title "Real
Estate Brokers", and to add a new sub-section 212 (a-1) to the
said Article 56, of the said Code under the same title and sub-
title, said new sub-section to follow immediately after sub-section
212 (a) thereof, establishing an associate broker, defining quali-
fications for such, changing the license fees and requirements of
real estate brokers and salesmen, permitting the Maryland Real
Estate Commission to stagger the issuance of licenses, establish-
ing a bond requirement for continuation of operations of a sus-
pended license HOLDER while under court ordered stay and gen-
erally relating to requirements of licensees of the Maryland Real
Estate Commission.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 217 (a), (b) and (c), 218 (b), 223 (a), (b), (c) and
(d), 225 (c) and 230 of Article 56 of the Annotated Code of Maryland
(1957 Edition AND 1963 SUPPLEMENT), title "Licenses", sub-
title "Real Estate Brokers", be and they are hereby repealed and
re-enacted, with amendments; that a new sub-section 212 (a-1) be
and it is hereby added to the said Article 56, of the said Code under
the same title and sub-title, said new sub-section to follow immedi-
ately after sub-section 212 (a) thereof, and all to read as follows:

217.

(a)   From and after June 1, 1939, it shall be unlawful for any
person, copartnership, association, or corporation to engage in or
carry on the business of or act in the capacity of a real estate broker
or a real estate salesman within this State without first obtaining a
license as herein provided; provided that any licensee who has
applied for the renewal of such license and paid the required fee
prior to [May 1st of any year] the expiration of his annual license
shall be deemed to be duly licensed during any period of delay by the
Commission in issuing the renewal certificate.

(b)  Every applicant for a license under the provisions of this
sub-title shall apply for said license in writing upon blank forms
prepared by the Commission, and every applicant for a real estate
broker's or salesman's license shall be at least twenty-one years of
age; and provided further that every licensed real estate broker shall
provide a corporate bond in the sum of $5,000 and every licensed
real estate salesman shall provide a corporate bond in the sum of
$1,000.00 for the use and benefit of the public who may suffer or
sustain any loss by reason of a violation of this sub-title by such
brokers or salesmen. The license of any licensee under this sub-title
who fails to file with the Commission acceptable evidence that his,
her or its bond as required by this sub-title has been extended prior
to the date of the expiration of such bond shall stand automatically-
suspended; and the Commission shall immediately notify such li-
censee of such suspension.

(c)   The Commission shall have the power to require all applicants
for a license under this sub-title to act as real estate broker or as a
real estate salesman, including members of copartnerships and asso-
ciations and officers of corporations, to present reasonable proof of
graduation from a recognized elementary school, or that they have,
in the judgment of the Commission, acquired comparable educational