2900

LAWS OF MARYLAND

Ch. 775

[(b) The maximum initial or renewal registration
filing fees payable with the application of any
broker-dealer and its agents is $500 $2,500, regardless of
the number of agents affiliated with the broker-dealer.]

[(c)] (B) In addition, each agent application

received at a time other than the initial or renewal

registration filed by a broker-dealer requires a prescribed
filing fee of [$15] $25.

[(d)] (C) If an application is denied or
withdrawn, the Commissioner shall retain [one half of] the
FILING fee.

11-506.

(a)  Every person filing a registration statement shall
pay a filing fee of 0.1 percent of the maximum aggregate
offering price at which the registered securities are to be
offered in this State, but the fee may not be in any case
less than [$25] $100 or more than [$250] $500.

(b)  Every person required to submit a filing pursuant
to any exemption granted under this title shall pay a fee of
$100 for each filing.

(c)  When a registration statement is withdrawn before
the effective date or a preeffective stop order is entered
under §§ 11-511 through 11-513 of this subtitle, the
Commissioner shall retain [one half of] the FILING fee.

11-601.

The following securities are exempted from §§ 11-205
and 11-501 of this title:

(1) (i) Any security, including a revenue obligation,
issued or guaranteed by the United States, any state, any
political subdivision of a state, or any agency or
corporation or other instrumentality of one or more of them
or by the Development Credit Corporation of Maryland; or

(ii) Any certificate of deposit for any of these
securities;

(2)  Any security issued or guaranteed by Canada, any
Canadian province, any political subdivision of the
province, any agency, corporate, or other instrumentality of
one or more of them, or any other foreign government with
which the United States currently maintains diplomatic
relations, if the security is recognized as a valid
obligation by the issuer or guarantor;

(3) Any security issued by and representing an
interest in or a debt of, or guaranteed by, any bank
organized under the laws of the United States, or any bank,