Marvin Mandel, Governor                        1361

of tax computed by the Insurance Commissioner shall be greater than
the amount shown on the report, the excess shall be assessed by the
Insurance Commissioner and a notice of such assessment shall be
mailed to the insurance company filing the report. Such assessment
shall be made within three years from the date the report was due,
except in the case of failure to file a report or of a fraudulent report,
in which case the excess may be assessed at any time. [Any insurance
company dissatisfied with any such assessment may appeal there-
from to the State Tax Commission, and from any decision of the
State Tax Commission may appeal to the courts of this State, as
provided in this article.]

143A.

Any insurance company dissatisfied with any assessment levied
under and pursuant to Section 141 of this Article or with any
disallowance by the Insurance Commissioner of all or any part of a
claim for refund as provided in Sections 215 through 217 of this
Article, may appeal therefrom to the Maryland Tax Court within
sixty (60) days from the earlier of delivery or mailing , WHICH-
EVER SHALL OCCUR EARLIER, of a notice of (1) assessment
issued pursuant to Section 141 of this Article or (2) disallowance
of claim for refund issued pursuant to Section 216 of this Article,
as the case may be.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved May 24, 1971.

CHAPTER 648
(Senate Bill 228)

AN ACT to repeal and re-enact, with amendments, Section 217 (b)
of Article 56 of the Annotated Code of Maryland (1968 Replace-
ment Volume and 1970 Supplement), title "Licenses," subtitle
"Real Estate Brokers," and to add new Section 217A to Article
56 of said Code, title and subtitle to follow immediately after
Section 217 thereof, abolishing the requirement for every licensed
real estate broker and salesman to provide a corporate bond, and
establishing a real estate guaranty fund in its place.

Section 1. Be it 'enacted by the General Assembly of Maryland,
That Section 217 (b) of Article 56 of the Annotated Code of Mary-
land (1968 Replacement Volume and 1970 Supplement), title
"Licenses," subtitle "Real Estate Brokers," be and it is hereby
repealed and re-enacted, with amendments, and that new Section
217A be and it is hereby added to Article 56 of said Code, title and
subtitle to follow immediately after Section 217 thereof, and all to
read as follows:

217.

(b) Every applicant for a license under the provisions of this
subtitle shall apply for said license in writing upon blank forms pre-