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847
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MARVIN MANDEL, Governor
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REVISOR'S NOTE: This section presently appears as
Art. 66 1/2, §5-704.
In this section, the more correct term
"license year" is substituted for
"registration year".
In subsection (b) of this section, the word
"new" is added to clarify the present
references to "Class A and Class B vehicles";
see §15-101(c) of this title.
Also in subsection (b), a reference is added
to "new two-stage vehicles" - defined in
§15-101(d) of this title — as implicitly
required by Ch. 425, Acts of 1976. Under
present Art. 66 1/2, §3-113.lA(b)(1) - as
enacted by Ch. 425, Acts of 1976 -
second—stage manufacturers are required to be
licensed "in accordance with" Art. 66 1/2,
Subtitle 5, Part VII; however, since it failed
to conform the fee schedule provisions of
present §5—704, that Act inadvertently failed
to provide expressly for any license fees.
The added reference corrects this oversight
and conforms this provision to the balance of
the subtitle. See, also, revisor's notes to
§15-201(b), (c), and (e) of this subtitle.
The only other changes are in style.
15-205. MANUFACTURER'S AND DISTRIBUTOR'S BOND.
(A) BOND REQUIRED.
AFTER THE ADMINISTRATION NOTIFIES A MANUFACTURER OR
DISTRIBUTOR OF NEW CLASS A VEHICLES OF THE APPROVAL OF
AN APPLICATION FOR A LICENSE AND BEFORE THE
ADMINISTRATION ISSUES A LICENSE, THE MANUFACTURER OR
DISTRIBUTOR SHALL FILE WITH THE ADMINISTRATION A SURETY
BOND IN THE FORM AND WITH THE SURETY THAT THE
ADMINISTRATION APPROVES.
(B) AMOUNT OF BOND.
(1) THE AMOUNT OF THE SURETY BOND SHALL BE
BASED ON THE NUMBER OF NEW CLASS A VEHICLES TRANSFERRED
BY THE MANUFACTURER OR DISTRIBUTOR TO DEALERS IN THIS
STATE DURING THE PRECEDING LICENSE YEAR, ACCORDING TO
THE FOLLOWING SCHEDULE:
(I) 1 TO 50 VEHICLES—$25,000 SURETY BOND;
(II) 51 TO 500 VEHICLES—$50,000 SURETY
BOND;
(III) 501 TO 10,000 VEHICLES—$100,000
SURETY BOND; AND
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