630

LAWS OF MARYLAND

Ch. 33

"principal" licensee and to "subagents" are
deleted as unnecessary.

In subsection (a) of this section, the reference
to agents named "under a license" by a licensee
is substituted for the reference to "specified in
such certificate" by the "applicant", to include
those agents named after the license is issued.

In subsection (d) (1) (ii) of this section, the
phrase "signed and verified" is substituted for
the requirement that the report be "under oath".
See § 1-202 of this article.

Subsections (d)(3) and (e)(3) of this section are
revised to avoid any implication that an
additional fee would be required for an agent
named in the original application for a license.
The provision of present Art. 11, § 217 that
limits to one fee the amount paid for an agent
under one license is deleted as unnecessary in
light of the revision of this section.

Subsection (e) (1) (i) and (ii) of this section is
new language added to conform to the similar
requirements for an original application (§
12-406 of this subtitle), the July report
(subsection (d)(1) of this section), and the
annual April report (§ 12-413 of this subtitle).

Subsection (e)(4) of this section is revised to
require payment of the fees with the application
for renewal. This change conforms to practice
and to the requirement for payment of all fees
and filing of bond or deposit of securities with
the original application. In this regard, see §
12-406 of this subtitle.

12-412. 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 SENDS THE BANK COMMISSIONER IN

WRITING THE LICENSE AND WRITTEN NOTICE OF THE PROPOSED

CHANGE; AND

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

(B)   ATTACHMENT OF CONSENT.

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