Ch. 302                             MARVIN MANDEL, Governor                                  701

78.

(a) The Superintendent, when satisfied from the examination of any application
and such further inquiry and investigations as he shall deem proper as to the good
character, competency and integrity of the applicant and the persons named in the
application, shall issue and deliver to the applicant a license to conduct such
business, and to own, conduct or maintain one or more bureaus, agencies,
subagencies, offices or branch offices for the conduct of such business at the
location stated in said application, together with as many copies of said license as
there are to be offices, bureaus, agencies, subagencies, offices or branch offices,
upon the payment by the applicant to the Superintendent of a license fee which in
the case of an individual shall be lone hundred fifty dollars ($150.00),] [[TWO
HUNDRED FIFTY DOLLARS ($250.00)]] [[TWO HUNDRED DOLLARS
($200.00) ]] FOUR HUNDRED DOLLARS ($400.00). and in the case of a firm,
association or corporation shall be [three hundred dollars ($300.00)] [[FIVE
HUNDRED DOLLARS ($500.00)]] [[FOUR HUNDRED DOLLARS
($400.00)]] SEVEN HUNDRED FIFTY DOLLARS ($750.00) and upon the
applicant executing and delivering to the superintendent a bond to the State and
which shall be for the benefit of any person injured by wilful, malicious or
wrongful act of the applicant, with one or more sufficient sureties, which in the
case of an individual shall be three thousand dollars ($3,000.00), and in the case of
a firm, association or corporation five thousand dollars ($5,000.00), which said
bond shall be conditioned for the faithful and honest conduct of such business by
the applicant; provided, however, that the aggregate liability of the surety to all the
persons so injured shall, in no event, exceed the penal sum of said bond, and in the
event said bond shall for any reason whatsoever be cancelled, forfeited, or
terminated by the surety or sureties, then it shall be the duty of said surety or
sureties to give immediate notice thereof to the Superintendent; failure to do so by
said surety or sureties shall continue the said bond in full force and effect until
such notice of termination, forfeiture or cancellation is received by the said
Superintendent. The license so granted by the Superintendent shall be valid for a
period of one year and shall expire April 30 of each year, but shall be revocable by
the Superintendent after hearing for cause. THE FEE FOR ANNUAL
RENEWAL OF [[THE LICENSE SO GRANTED BY THE
SUPERINTENDENT SHALL BE THE SAME AS THE INITIAL LICENSE
FEE PROVIDED HEREIN]] AN INDIVIDUAL LICENSE IS TWO
HUNDRED DOLLARS ($200.00) AND A FIRM, ASSOCIATION OR
CORPORATION LICENSE IS FOUR HUNDRED DOLLARS ($400.00). In
case of revocation or surrender of any license, no refund shall be made of any
license fee paid under the provisions hereof. The license shall set forth the full
name of the applicant, the location of the principal office or place of business, and
the location of each bureau, agency, subagency, office or branch office for which
the license is issued, date on which it is issued, the date on which it will expire, and
the name or names of the persons named in the application, and their respective
addresses. In the event of any change in the membership of the firm or in the
officers or directors of any association or corporation or any change in the address
of any office or location of such business the Superintendent shall be notified in
writing of such change within five days thereafter, and failure to give such
notification shall be sufficient cause for revocation of such license.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1973.

Approved May 7, 1973.