MARVIN MANDEL, Governor                             1723

CHAPTER 463
(House Bill 732)
AN ACT concerning

Vehicle Dealer — Surety Bond

FOR the purpose of providing that a vehicle dealer or
motor club is exempt, under certain circumstances,
from certain surety bond requirements when applying
to become a Title Service Agent.

BY repealing and re—enacting, with amendments,

Article 66 1/2 — Vehicle Laws

Section 5-804(a)

Annotated Code of Maryland

(1970 Replacement Volume and 1973 Supplement.)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 5-804(a) of Article 66 1/2 -
Vehicle Laws, of the Annotated Code of Maryland (1970
Replacement Volume and 1973 Supplement) be and it is
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 66 1/2 - Vehicle Laws

5-804.

(a) Each applicant, after notification by the
Administration of the approval of his application, shall
file with the Administration acceptable evidence of a
surety bond in a form and with a surety the
Administration approves, UNLESS THE APPLICANT IS A DEALER
WHO HAS ALREADY OBTAINED AN APPROVED SURETY BOND PURSUANT
TO SECTION 5-108 OF THIS ARTICLE[[.]] , OR UNLESS THE
APPLICANT IS A MOTOR CLUB WHICH HAS ALREADY OBTAINED AN
APPROVED SURETY BOND PURSUANT TO SECTION 3 (B) (5) OF
ARTICLE 48B. The bond shall be in the amount of
$10,000.00. The bond shall be for the use and benefit of
the Administration and any member of the public who
suffers or sustains any loss by reason of any violation
by the licensee, or by his agent or employee, of the
provisions of this article that the Administration
specifies.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974.