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2832
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Ch. 693
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LAWS OF MARYLAND
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any person [or persons] who may have A cause of action
against the obligor of [said] THE bond under the
provisions of this article. [Such] THE bond shall be
conditioned that [said] THE obligor will conform to and
abide by each and every provision of this article, and
will pay to [the] THIS State[,] and to any [such] OTHER
person [or persons,] any and all moneys that may become
due or owing to [the] THIS State and to [such] THAT
person [or persons] from [said] THE obligor, under and by
virtue of the provisions of this article,
4.
(a) [Upon] ON the filing of [such] THE REQUIRED
application [and the approval of said bond and the
payment of said fee] FEES, AND BOND, the [Administrator
of Loan Laws] COMMISSIONER OF CONSUMER CREDIT shall
investigate the facts concerning the application and the
requirements provided for in subsection (b) of this
section. The [Administrator of Loan Laws] COMMISSIONER
shall grant or deny each application for [a] AN ORIGINAL
license within [sixty] 60 days from the filing [thereof
with the required information and] OF THE APPLICATION,
fees, AND BOND, unless the period is extended by written
agreement between the applicant and [Administrator of
Loan Laws] THE COMMISSIONER.
(b) (1) [If the Administrator of Loan Laws shall
find] THE COMMISSIONER SHALL ISSUE A LICENSE TO AN
APPLICANT IF HE FINDS THAT:
(1) [(1) that] the financial responsibility,
experience, character, and general fitness of the
applicant are such as to command the confidence of the
public and to warrant belief that the business will be
operated lawfully, honestly, fairly, and efficiently[,]
within the purposes of this article[, and];
(II) [(2) that] allowing [such] THE applicant to
engage in business will promote the convenience and
advantage of the community in which the licensed office
is to be located[,]; and
(III) [(3) that] the applicant has available for the
operation of [such] THE business at the specified
location liquid assets of at least [twenty thousand
dollars ($20,000.00), he shall thereupon enter an order
granting such application, and file his findings in his
office, and forthwith issue and deliver a license to the
applicant to make loans in accordance with the provisions
of this article] $20,000.
(2) THE LICENSE SHALL BE for a period which shall
expire the [first] LAST day of [May] JUNE next following
the date of its issuance[. Such license shall] AND IS
not [be] assignable.
(c) (1) If the [Administrator of Loan Laws shall not
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