Marvin Mandel, Governor                         407

217A.

(b)    Each real estate broker and real estate salesman entitled to
renew his license shall, when so renewing his license on or after
July 1, 1971, pay in addition to the appropriate license fee a further
fee of twenty dollars which shall be credited to the real estate guar-
anty fund, and any person who receives a real estate broker's or real
estate salesman's license for the first time shall pay said additional
fee of twenty dollars in addition to all other fees payable, provided in
no case shall any real estate broker or salesman be required to pay
said fee of twenty dollars more than once, unless assessed as pro-
vided in subsection (c).

(c)    Said Commission shall, at all times after July 1, 1971 main-
tain said real estate guaranty fund at a level in excess of two hundred
fifty thousand dollars and to this intent all moneys received under
subsection (b) hereof shall be credited to said guaranty fund and
any such moneys may be invested or reinvested in the same manner
as funds of the State Employees eRtirement RETIREMENT System,
and the interest arising from such investments shall be credited to
said guaranty fund, and shall be available for the same purposes as
all other moneys deposited in said guaranty fund under subsection
(b). If the fund falls below the two hundred fifty thousand dollar
level, the Commission shall assess each real estate broker and real
estate salesman a fee, in such amount that the fund will be returned
to the two hundred fifty thousand dollar level.

(e) Any person filing with the Commission any notice, statement
or other document required under the provisions of subsection (d)
of this section which he knows to be false or untrue or to contain
any material misstatement of fact shall be fined not less than two
hundred dollars.

223.

(d)    For each real estate salesman's license, a fee of twenty
dollars ($20.00), and for each [biennially] biennial registration of
said license thereafter, a fee of twenty dollars ($20.00).

270.

(a) Comptroller to establish register of nonresident general
contractors and subcontractors; rules and regulations; personnel,
office space and equipment for inspector.—It shall be the duty of the
Comptroller of the State of Maryland to establish in the division of
the license bureau, a register listing all nonresident general con-
tractors and subcontractors. The Comptroller shall have the power to
make such rules and regulations as he shall deem best, providing the
same are not in conflict with THE laws of Maryland. Upon enactment
of this subtitle, the Comptroller of Maryland shall promulgate such
rules and regulations as he shall deem necessary for the proper main-
tenance of the register and to provide for the appropriate filing of
applications, the conducting of examinations, and the conducting of
necessary investigations. The Comptroller shall further provide for
the necessary personnel, office space and equipment to be furnished
the chief of license inspectors to insure that this subtitle is imple-
mented.