HARRY HUGHES, Governor

3849

(2)  IN ADDITION TO THE PROVISIONS OF SUBSECTION
(A)(3) OF THIS SECTION, A LICENSE MAY NOT BE ISSUED,
RENEWED, OR TRANSFERRED TO AN INDIVIDUAL APPLYING ON BEHALF
OF A CORPORATION OR UNINCORPORATED ASSOCIATION, UNLESS BONA
FIDE RESIDENTS OF PRINCE GEORGE'S COUNTY OWN 51 25 PERCENT
OF THE TOTAL ISSUED CAPITAL STOCK OF THE CORPORATION OR
UNINCORPORATED ASSOCIATION.

(3)  THE APPLICATION FOR A LICENSE SHALL:

(I)  SET FORTH THE NAMES AND ADDRESSES OF
ALL THE OFFICERS OF THE CORPORATION OR CLUB;

(II)  BE SIGNED BY THE PRESIDENT OR VICE
PRESIDENT AND THE 3 OFFICERS TO WHOM THE LICENSE IS ISSUED;

(III) DISCLOSE THE NAME AND ADDRESS OF THE
CORPORATION, CLUB, PARTNERSHIP, OR ASSOCIATION AS WELL AS
THE NAME AND ADDRESSES OF THE APPLICANTS; AND

(IV) IN THE CASE OF A CORPORATION WHERE
THERE ARE LESS THAN 3 OFFICERS OR DIRECTORS OF THE
CORPORATION, ALL OFFICERS OR DIRECTORS SHALL MAKE THE
APPLICATION.

(4)  IF A CLOSE CORPORATION HAS NO OFFICERS OR
DIRECTORS, IN ORDER TO MAKE THE APPLICATION:

(I)  AT LEAST 51 25 PERCENT OF THE STOCK
SHALL BE HELD BY PRINCE GEORGE'S COUNTY RESIDENTS;

(II)  THERE SHALL BE AN AFFIRMATIVE VOTE OF
THE STOCKHOLDERS HOLDING A MAJORITY OF THE STOCK;

(III)  AT LEAST 1. STOCKHOLDER SHALL APPLY
FOR THE LICENSE AS PROVIDED IN THIS SECTION; AND

(IV)  THE APPLICANTS OR THE CORPORATION
SHALL FURNISH ANNUALLY TO THE BOARD OF LICENSE COMMISSIONERS
A SWORN STATEMENT GIVING THE NAME AND ADDRESS OF EACH
STOCKHOLDER OF THE CORPORATION AND THE NUMBER OF SHARES THAT
EACH STOCKHOLDER OWNS IN HIS NAME ON WHICH HE HAS A RIGHT TO
VOTE AT ANY STOCKHOLDER MEETING.

(5)  NOTHING IN THIS SECTION SHALL APPLY TO
RACETRACK LICENSES, CLASS BLX LICENSES, ARENA LICENSES,
CLASS BCE (CATERING) LICENSES, CLASS B/ECF (EDUCATIONAL
CONFERENCE FACILITY) LICENSES, OR TO SHARES OF STOCK
BUSINESSES WHOSE SALES OF STOCK ARE AUTHORIZED FOR SALE BY
THE SECURITY AND EXCHANGE COMMISSION OF THE UNITED STATES.

(6)  CURRENT LICENSEES SHALL COMPLY WITH THE
PROVISIONS OF THIS SECTION BY JULY 1, 1985.