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LAWS OF MARYLAND

Ch. 33

and "money orders" are deleted as unnecessary in
light of the definition of "draft" in § 12-401 of
this subtitle.

As to a person exempted from licensing under this
subtitle, see § 12-402 of this subtitle.

12-405. QUALIFICATIONS OF APPLICANTS.

TO QUALIFY FOR A LICENSE, AN APPLICANT SHALL SATISFY
THE BANK COMMISSIONER THAT THE APPLICANT:

(1)   IS TRUSTWORTHY AND REPUTABLE;

(2)   HAS A GOOD BUSINESS REPUTATION; AND

(3)   HAS SUFFICIENT BUSINESS EXPERIENCE TO CARRY
ON THE BUSINESS COMPETENTLY.

REVISOR'S NOTE: This section is new language derived
without substantive change from the specific
qualifications listed in the first sentence of
Art. 11, § 213.

12-406. 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 IN 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 OR
ASSOCIATION, THE NAME AND BUSINESS ADDRESS OF EACH OF ITS
OFFICERS AND DIRECTORS;

(III)   IF THE APPLICANT IS AN
UNINCORPORATED ENTITY WITH      LESS THAN 100 MEMBERS OR A
PARTNERSHIP, THE NAME AND   BUSINESS ADDRESS OF EACH OF ITS
MEMBERS;

(IV)   THE ADDRESS AT WHICH THE BUSINESS IS
TO BE CONDUCTED; AND

(V)   THE NAME, BUSINESS ADDRESS, AND NATURE
OF BUSINESS OF EACH AGENT WHO IS AUTHORIZED TO DO BUSINESS
ON BEHALF OF THE APPLICANT.

(B)   FEES.

WITH THE APPLICATION, THE APPLICANT SHALL PAY TO THE