MARVIN MANDEL, Governor

71

(Senate Bill 222)

AN ACT concerning

Industrial Finance Companies — Fees

FOR the purpose of increasing the fees paid by Industrial
Finance Companies as application fees and annual
license fees; and correcting language.

BY repealing and re-enacting, with amendments,

Article 11 — Banks and Trust Companies

Section 169 and 177

Annotated Code of Maryland

(1968 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 169 and 177 of Article 11 - Banks
and Trust Companies, of the Annotated Code of Maryland
(1968 Replacement Volume and 1974 Supplement) be and they
are hereby repealed and re—enacted, with amendments, to
read as follows:

Article 11 — Banks and Trust Companies
169.

Application for a license shall be in writing, under
oath, and in the form prescribed by the Commissioner.
The application shall give the exact location where the
business is to be conducted and shall contain such
further relevant information as the Commissioner may
require including the names and addresses of the
partnership, corporation, officers, directors, or
trustees, and of such of the principal owners or members
as will provide the basis for the investigations and
findings contemplated by § 170 of this subtitle. At the
time of making [such] application, the applicant shall
pay to the Commissioner the sum of [one hundred dollars
($100)] $100 as a fee for investigating the application,
and the sum of [three hundred dollars ($300)] [[$400]]
$360 as a license fee for the period ending on the last
day of the current calendar year[; provided that if]. IF
the license is granted after June 30 in any year, the
license fee shall be [one hundred fifty dollars ($150)]
[[$200]] $180 for the remainder of the current calendar
year.

177.

Each license shall remain in full force and effect