634

LAWS OF MARYLAND

Ch. 33

THE SURRENDER OF A LICENSE DOES NOT:

(1)   AFFECT ANY CIVIL OR CRIMINAL LIABILITY OF
THE LICENSEE FOR ACTS COMMITTED BEFORE THE LICENSE IS
SURRENDERED;

(2)   AFFECT THE BOND FILED OR SECURITIES
DEPOSITED BY THE LICENSEE; OR

(3)   ENTITLE THE LICENSEE TO THE RETURN OF ANY
PART OF ANY LICENSE OR AGENT FEE.

REVISOR'S NOTE: This section presently appears as Art.
11, § 218(b).

In subsection (b) (2) of this section, the
reference to "securities deposited by the
licensee" is new language added to cover those
instances where a licensee elects to deposit
securities rather than bonds.

The only other changes are in style.

12-419. INVESTIGATORY POWERS OF BANK COMMISSIONER.

(A)   BANK COMMISSIONER MAY INVESTIGATE.

TO DISCOVER ANY VIOLATIONS OF THIS SUBTITLE OR TO
OBTAIN ANY INFORMATION REQUIRED BY THIS SUBTITLE, THE BANK
COMMISSIONER AT ANY TIME MAY INVESTIGATE THE BUSINESS OF:

(1)   ANY LICENSEE;

(2)   ANY PERSON WHO IS ENGAGED OR PARTICIPATING
IN THE BUSINESS OF ISSUING OR SELLING DRAFTS, WHETHER AS
PRINCIPAL, AGENT, OR OTHERWISE; AND

(3)   ANY OTHER PERSON WHO THE BANK COMMISSIONER
HAS CAUSE TO BELIEVE IS VIOLATING THIS SUBTITLE, WHETHER
THAT PERSON CLAIMS TO BE WITHIN OR BEYOND THE SCOPE OF THIS
SUBTITLE.

(B)   ACCESS; EXAMINATION UNDER OATH.

FOR THE PURPOSES OF THIS SECTION, THE BANK
COMMISSIONER:

(1)   SHALL BE GIVEN ACCESS TO THE PLACE OF
BUSINESS, BOOKS, PAPERS, RECORDS, SAFES, AND VAULTS OF THE
PERSON UNDER INVESTIGATION; AND

(2)   MAY SUMMON AND EXAMINE UNDER OATH ANY PERSON
WHOSE TESTIMONY THE BANK COMMISSIONER REQUIRES.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first