2672

LAWS OF MARYLAND

Ch. 716

DEPARTMENT TAXES AND FEES WITHIN 30 DAYS OF COLLECTION, THE
DEPARTMENT MAY DECLARE FORFEITED THE BOND OR OTHER SECURITY
FILED BY THE DEALER UNDER THIS SUBTITLE. THE DEPARTMENT
SHALL USE FUNDS COLLECTED THROUGH THE FORFEITURE TO
REIMBURSE THE BOAT DEALER ASSURANCE FUND FOR THE EXPENSE OF
PAYING TITLE TAXES AND FEES IN ACCORDANCE WITH THIS SECTION.

(F) ANY MONEY IN THE ASSURANCE FUND IN EXCESS OF
$125,000 SHALL BE TRANSFERRED ANNUALLY TO THE DEPARTMENT'S
SPECIAL FUND RESERVE ACCOUNT TO BE USED TO FINANCE THE
PROVISIONS OF THE STATE BOAT ACT.

(F)  WHEN THE ASSURANCE FUND ACCUMULATES $25,000, THE
FEE REQUIRED BY PARAGRAPH (A)(2) OF THIS SECTION SHALL CEASE
TO BE COLLECTED. IF THE FUND IS REDUCED TO $10,000, THE FEE
SHALL AUTOMATICALLY BE COLLECTED UNTIL THE FUND IS RESTORED
TO $25,001).

(G)  THE DEPARTMENT MAY REQUIRE THE RETURN OF ALL
TEMPORARY CERTIFICATES FROM ANY DEALER WHO HAS NOT COMPLIED
WITH ANY PROVISION OF THIS SUBTITLE.

8-715.

(g) Every dealer transferring a vessel requiring
titling under this subtitle shall assign the title to the
new owner, or in the case of a new vessel assign the
certificate of origin. Within [15] 30 days, the dealer shall
forward all [moneys] TITLE TAXES, FEES, and applications to
the Department.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 717

(Senate Bill 143)

AN ACT concerning

Baltimore City Election Wards - Corrections

FOR the purpose of amending Chapter 586 of the Acts of 1980
to make technical corrections in the description of
certain election ward boundaries in Baltimore City;
eliminating a certain restriction on the use of the
election ward boundaries delineated by Chapter 586 of
the Acts of 1980; and making this Act an emergency
measure.

BY repealing and reenacting, with amendments,