HARRY HUGHES, Governor

603

(I)   COMMAND THE CONFIDENCE OF THE PUBLIC;
AND

(II)   WARRANT THE BELIEF THAT THE BUSINESS
WILL BE OPERATED LAWFULLY, HONESTLY, FAIRLY, AND
EFFICIENTLY.

(B) ADDITIONAL GROUNDS FOR DENIAL.

THE BANK COMMISSIONER MAY DENY AN APPLICATION FOR A
LICENSE TO ANY PERSON WHO HAS COMMITTED ANY ACT THAT WOULD
BE A GROUND FOR THE SUSPENSION OR REVOCATION OF A LICENSE
UNDER § 12-316 OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 66, §§ 42
and 44(b) and from the grounds for refusal of a
license set forth in Art. 66, § 46(b).

In subsection (b) of this section, the present
reference to grounds for refusal to "renew" a
license is deleted as unnecessary and misleading.
See revisor's note to § 12-316 of this subtitle.

As to subsection (a) of this section, the present
requirements to qualify for a license do not
reflect that the applicant may be a corporation
or other entity. See, e.g., § 12-306(a)(2)(ii)
of this subtitle.

As to subsection (a)(2) of this section, the
present statement that the Bank Commissioner
"shall make such investigation as he may deem
necessary" now appears in § 12—307 of this
subtitle.

12-306. APPLICATIONS FOR LICENSES.

(A) IN GENERAL.

(1)   TO APPLY FOR A LICENSE, AN APPLICANT SHALL
SIGN AND SUBMIT TO THE BANK COMMISSIONER A VERIFIED
APPLICATION ON THE FORM THAT THE BANK COMMISSIONER REQUIRES.

(2)   THE APPLICATION SHALL INCLUDE:

(I)   THE APPLICANT'S NAME, BUSINESS
ADDRESS, AND, IF THE APPLICANT IS AN INDIVIDUAL, RESIDENCE
ADDRESS;

(II)   IF THE APPLICANT IS A CORPORATION,

THE NAME, BUSINESS ADDRESS, AND RESIDENCE ADDRESS OF EACH OF
ITS OFFICERS AND DIRECTORS;

(III)   IF THE APPLICANT IS A PARTNERSHIP OR
OTHER ASSOCIATION, THE NAME, BUSINESS ADDRESS, AND RESIDENCE
ADDRESS OF EACH OF ITS MEMBERS;