MARVIN MANDEL, Governor

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SOLELY TO REIMBURSEMENT BUT MUST PROVIDE A SERVICE
NETWORK TO RENDER THE EMERGENCY ROAD SERVICE.]]

(IV) OFFER REIMBURSEMENT ONLY, UNLESS
THE CONTRACT CLEARLY STATES THAT NO ROAD SERVICE WILL BE
PROVIDED.

(5)  Evidence of security, which may be shown
by depositing with the Treasurer of the State of
Maryland, who shall maintain the same in trust registered
United States government bonds having a market value at
all times of not less than one hundred thousand dollars
($100,000), or in the discretion of the Insurance
Commissioner a lower amount not. to be less than fifteen
thousand dollars ($15,000), or a corporate surety bond in
such form as the Commissioner may prescribe in a sum of
not less than one hundred thousand dollars ($100,000), or
in the discretion of the Insurance Commissioner a lower
amount not to be less than fifteen thousand dollars
($15,000), in favor of the State of Maryland on behalf of
members and subscribers residing therein. Said bond
shall be issued by a surety company authorized to do
business in this State, and it shall be conditioned upon
the faithful performance by the applicant of its
obligations under this article, including payment of any
fines, fees or penalties imposed on it or restitution
ordered pursuant to the provisions of this article, but
the aggregate liability of the surety for all breaches of
the conditions of the bond shall, in no event exceed the
amount of such bond. The surety on the bond shall have
the right to cancel such bond by giving thirty days'
notice to the Commissioner and thereafter shall be
relieved of liability for any breach of condition
occurring after the effective date of said cancellation.
The Commissioner may promulgate rules and regulations
specifying conditions concerning said bond and providing
methods for termination of said bond.

(6)   The bond or deposit provided for in
subparagraph (5) shall be maintained so long as the
licensee has any outstanding liability or obligation in
this State. Upon proof satisfactory to the Commissioner
that the licensee has ceased to do business and that all
its liabilities and obligations have been satisfied, the
Commissioner shall authorize the Treasurer of the State
of Maryland to return the security to the licensee.

(7)    In the event an application for
certificate of authority filed hereunder is not approved,
the Division shall retain fifty dollars of the fee paid
to it in connection with said application and return the
balance to the applicant.