608

LAWS OF MARYLAND

Ch. 33

(B) RENEWAL.

BEFORE A LICENSE EXPIRES, THE LICENSEE PERIODICALLY MAY
RENEW THE LICENSE FOR ADDITIONAL 1-YEAR TERMS, IF THE
LICENSEE:

(1)       OTHERWISE IS ENTITLED TO BE LICENSED;

(2)       PAYS TO THE BANK COMMISSIONER A RENEWAL FEE
OF $300; AND

(3)       SUBMITS TO THE BANK COMMISSIONER A RENEWAL
APPLICATION ON THE FORM THAT THE BANK COMMISSIONER REQUIRES.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last sentence
of Art. 66, § 44(a).

The renewal provisions of this section are new
language added to reflect the reference to
renewals in present Art. 66, § 50 and to conform
with actual practice.

12-310. CHANGE OF PLACE OF BUSINESS.

(A)   CONSENT REQUIRED.

A LICENSEE MAY NOT CHANGE THE PLACE OF BUSINESS FOR
WHICH A LICENSE IS ISSUED UNLESS THE LICENSEE:

(1)   NOTIFIES THE BANK COMMISSIONER IN WRITING OF
THE PROPOSED CHANGE; AND

(2)   RECEIVES THE WRITTEN CONSENT OF THE BANK
COMMISSIONER.

(B)   ATTACHMENT OF CONSENT.

IF THE BANK COMMISSIONER CONSENTS TO A PROPOSED CHANGE
OF PLACE OF BUSINESS, THE LICENSEE SHALL ATTACH THE WRITTEN
CONSENT TO THE LICENSE.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 66, § 49.

12-311. ANNUAL REPORTS.

(A) REPORT REQUIRED.

DURING APRIL OF EACH YEAR, EACH LICENSEE SHALL FILE
WITH THE BANK COMMISSIONER AN ANNUAL REPORT THAT:

(1) CONTAINS THE INFORMATION THAT THE BANK
COMMISSIONER REASONABLY REQUIRES ABOUT THE BUSINESS AND
OPERATIONS OF THE LICENSEE DURING THE PREVIOUS CALENDAR
YEAR;