HARRY HUGHES, Governor

621

BANK COMMISSIONER:

(1)   AN INVESTIGATION FEE OF $100;

(2)   THE AGENT FEE REQUIRED BY § 12-411 OF THIS
SUBTITLE; AND

(3)   A LICENSE FEE OF EITHER:

(I)   $200 IF THE APPLICANT APPLIES FOR THE
LICENSE ON OR AFTER JANUARY 1 AND ON OR BEFORE JUNE 30; OR

(II)   $100 IF THE APPLICANT APPLIES FOR THE
LICENSE ON OR AFTER JULY 1 AND ON OR BEFORE DECEMBER 31.

(C)   BOND OR SECURITIES.

WITH THE APPLICATION, THE APPLICANT SHALL FILE A SURETY
BOND OR DEPOSIT SECURITIES WITH THE BANK COMMISSIONER AS
PROVIDED IN § 12-410 OF THIS SUBTITLE.

(D)       SEPARATE APPLICATION AND FEES REQUIRED.

(1)       FOR EACH LICENSE FOR WHICH AN APPLICANT
APPLIES, THE APPLICANT SHALL:

(I)       SUBMIT A SEPARATE APPLICATION;

(II)       PAY A SEPARATE LICENSE FEE; AND

(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) 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)(1) 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.

(3)       IF AN APPLICANT HAS OR IS APPLYING FOR MORE
THAN ONE LICENSE, THE APPLICANT IS NOT REQUIRED TO FILE A
SEPARATE INVESTIGATION FEE.

REVISOR'S NOTE: This section is new language derived
from the introductory paragraph of Art. 11, §
212, from Art. 11, § 212(1), from the first two