MARVIN MANDEL, Governor                        199

CHAPTER 68
(Senate Bill 203)

AN ACT to repeal and re-enact, with amendments, Section 16 (a) (1)
of Article 32A of the Annotated Code of Maryland (1968 Supple-
ment), title "Department of Law," subtitle "Maryland Securities
Act," amending the laws concerning the Maryland Securities Act
in order to make a correction therein and a change in the arrange-
ment.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 16 (a) (1) of Article 32A of the Annotated Code of
Maryland (1968 Supplement), title "Department of Law," subtitle
"Maryland Securities Act" be and it is hereby repealed and re-
enacted, with amendments, to read as follows:

16.

(a) (1) A broker-dealer or agent may obtain an initial registra-
tion by filing with the Commissioner an application together with a
consent to service of process pursuant to Section 38 (g). The applica-
tion shall contain whatever information the Commissioner by rule
requires concerning such matters as [(1)] (i) the applicant's form
and place of organization; [(2)] (ii) the applicant's proposed method
of doing business; [(3)3 (iii) the qualifications and business history
of the applicant and, in the case of a broker-dealer, any partner,
officer, or director, any person occupying a similar status or perform-
ing similar functions, or any person directly or indirectly controlling
the broker-dealer; [(4)] (iv) any injunction or administrative order
or conviction of a misdemeanor involving a security or any other
aspect of the securities business and any conviction of a felony; and
[(5)] (v) the applicant's financial condition and history. The Com-
missioner at his discretion may publish an announcement of the
applicants for registration in such newspapers as he determines.
If no denial order is in effect and no [proceedings] proceeding is
pending under Section 18, registration becomes effective at noon of
the thirtieth day after an application is filed. The Commissioner may
by rule or order specify an earlier effective date until noon of the
thirtieth day after the filing of any amendment.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved March 24, 1969.

CHAPTER 69
(Senate Bill 204)

AN ACT to repeal and re-enact, with amendments, Sections 12B and
47 (b) of Article 26 of the Annotated Code of Maryland (1968
Supplement), title "Courts," subtitles "Criminal Justice Act for
Prince George's County," and "Salaries of Judges," correcting
errors in certain laws concerning the courts and judges in this
State.