426                             LAWS OF MARYLAND                      [CH. 168

CURITIES BY ANY QUALIFIED TRUST COMPANY OR NA-
TIONAL BANKING ASSOCIATION LOCATED IN THE STATE
OF MARYLAND. THE COMPENSATION, IF ANY, OF THE
CUSTODIAN FOR ACTING AS SUCH UNDER THIS SECTION,
SHALL BE PAID BY THE DEPOSITING APPLICANT. IF THE
COMMISSIONER SHALL FIND AT ANY TIME THAT THE
BOND FILED OR ANY OF THE SECURITIES DEPOSITED IN
LIEU OF SUCH BOND IS OR ARE IN HIS JUDGMENT INSE-
CURE, EXHAUSTED OR OTHERWISE DOUBTFUL OR UNSAT-
ISFACTORY, AN ADDITIONAL BOND IN LIKE AMOUNT OR
ADDITIONAL OR SUBSTITUTE SECURITIES TO BE AP-
PROVED BY THE COMMISSIONER SHALL BE FILED OR DE-
POSITED BY THE LICENSEE WITHIN THIRTY (30) DAYS
AFTER WRITTEN DEMAND THEREFOR BY THE COMMIS-
SIONER.

214.

It shall be the duty of every licensee to deposit or cause to be
deposited the proceeds from the sale of all checks, drafts and/or
money orders in one or more financial institutions upon which such
items are drawn, provided, however, such deposits [need not neces-
sarily] shall be made in such institutions [until] within 48 hours
after the next regular business day following the sale of any such
items. No licensee or agent shall be permitted to co-mingle funds

received from the sale of checks, drafts and/or money orders with

any other of the personal or business funds of the licensee or the
licensee's agents.

Whenever any licensee under this subtitle sells any checks, drafts,
and/or money orders directly or through agents or subagents which
are not drawn on a financial institution but are payable by said
licensee, then said licensee shall at all time have on hand, in the form
of cash or unpledged liquid assets an amount equal to the face amount
of all outstanding and unpaid checks, drafts and/or money orders
sold by such licensee, his agents or subagents. "Liquid assets" within
the meaning of this subtitle shall include general obligations of or
fully guaranteed by the United States or any agency or instrumen-
tality of or corporation wholly owned by the United States directly
or indirectly, direct general obligations of any state and such other
assets as the Commissioner shall reasonably determine to constitute
such "liquid assets."

216.

(a)   The license shall state the name of the licensee and the
address at which the business is to be conducted.

(b)   No more than one place of business shall be maintained under
the same license, but the Commissioner may issue more than one
license to the same licensee upon the compliance with the provisions
of this subtitle governing an original issuance of such a license, pro-
vided, however, that such license shall include the authority of the
applicant to certify designated agents upon the payment of the addi-
tional fee per agent required by this subtitle, provided, however,
that a licensee having more than one place of business shall not be
required to file more than one bond or deposit securities in lieu of
more than one such bond.