632                                          LAWS OF MARYLAND                                   Ch. 33

(II)   DIRECT GENERAL OBLIGATIONS OF ANY
STATE; AND

(III)   ANY OTHER ASSETS THAT THE BANK
COMMISSIONER AUTHORIZES.

(2) IF ANY DRAFTS SOLD BY A LICENSEE, WHETHER
DIRECTLY OR THROUGH ITS AGENTS, ARE NOT DRAWN ON A FINANCIAL
INSTITUTION BUT ARE PAYABLE BY THE LICENSEE, THE LICENSEE AT
ALL TIMES SHALL HAVE ON HAND, IN CASH OR UNPLEDGED LIQUID
ASSETS, AN AMOUNT EQUAL TO THE FACE AMOUNT OF ALL OF THESE
DRAFTS THAT ARE OUTSTANDING AND UNPAID.

REVISOR'S NOTE: This section presently appears as Art.
11, § 214.

In this section, present references to "checks"
and "money orders" are deleted as unnecessary in
light of the definition of "draft" in § 12-401 of
this subtitle.

In subsection (b)(1) of this section, the tern
"means" is substituted for "shall include" for
clarity, since the definition apparently was
intended to be exclusive rather than merely
illustrative.

The only other changes are in style.

As to subsection (b) (1) (ii) of this section, the
term "any state" is defined in § 1—101 of this
article.

12-415. ISSUANCE OF DUPLICATE DRAFTS.

(A)   REQUEST BY BUYER.

THE ORIGINAL BUYER OF A DRAFT MAY REQUEST A DUPLICATE
OF THE DRAFT IF THE REQUEST IS:

(1)   IN WRITING; AND

(2)   IF REQUIRED BY THE LICENSEE, ACCOMPANIED BY:

(I)   AN AFFIDAVIT THAT GIVES THE REASON FOR
THE REQUEST AND STATES THE FACTS RELATING TO THE LOSS OF OR
OTHER FAILURE TO PRODUCE THE ORIGINAL DRAFT; AND

(II)   A PERSONAL INDEMNITY BOND OR, IF THE
TOTAL AMOUNT OF THE DRAFTS FOR WHICH A DUPLICATE IS
REQUESTED IS $50 OH MORE, A LOST INSTRUMENT CORPORATE BOND
INSTEAD OF A PERSONAL INDEMNITY BOND.

(B)   DUTY OF LICENSEE.

EACH LICENSEE SHALL ISSUE OR REFUSE TO ISSUE A