HARRY HUGHES, Governor

1977

(IV) [(iii)] For each agent who is
authorized to do business under each license, pay the agent
fee required by § 12-411 of this subtitle.

(2)  If an applicant has or is applying for more
than one license, the applicant may comply with subsection
[(c)] (D) of this section by filing only one bond or
depositing only one set of [securities as long as the amount
of the bond or fair market value of the securities:

(i) For all or part of the first license
year in which the applicant will be licensed under any one
license, complies with § 12-410(d)(l) of this subtitle; and

(ii) For any subsequent license year,
complies with § 12-410(d)(2) of this subtitle so as to
reflect the average total of drafts outstanding and unpaid
for the previous license year under all of the licensee's
licenses combined] PERMISSIBLE INVESTMENTS.

(3)  If an applicant has or is applying for more
than one license, the applicant is not required to file a
separate investigation fee.

12-407.

(a)  When an applicant for a license files the
application AND FINANCIAL STATEMENT, files a bond or
deposits [securities] PERMISSIBLE INVESTMENTS, and pays the
fees required by § 12-406 of this subtitle, the Bank
Commissioner shall investigate to determine if the applicant
meets the requirements of this subtitle for a license.

(b)  The Bank Commissioner shall approve or deny each
application for a license within 60 days after the date when
the application AND FINANCIAL STATEMENT is filed, the bond
is filed or [securities] PERMISSIBLE INVESTMENTS are
deposited, and the fees are paid.

(d) (1) If an applicant does not meet the requirements
of this subtitle, the Bank Commissioner shall:

(iii) Return the bond [or securities]
filed OR PERMISSIBLE INVESTMENTS DEPOSITED under § 12-406 of
this subtitle;

12-409.

(b) On or before December 10, a licensee may renew a
license for an additional year, if the licensee:

(1)  Otherwise is entitled to be licensed;

(2)  Files any bond renewal certificate or new
bond or deposits any new [securities] PERMISSIBLE
INVESTMENTS required by § 12-410 of this subtitle;