2894

LAWS OF MARYLAND

Ch. 607

(2)  THE APPLICATION IN PROPER FORM FOR AN EXEMPTION
CERTIFICATE HAVING BEEN ACCEPTED FOR FILING AND APPROVED, THE
COMPTROLLER SHALL ISSUE THE EXEMPTION CERTIFICATE SUBJECT TO
CANCELLATION AS PROVIDED BY LAW.

(3)  LICENSES AND EXEMPTION CERTIFICATES ISSUED UNDER
THIS SECTION SHALL BE VALID FOR THE 1-YEAR PERIOD BEGINNING JUNE
1 OF EACH YEAR AND ENDING ON MAY 31 OF THE FOLLOWING YEAR.

[(e)] (K) The license OR EXEMPTION certificate so issued by
the Comptroller shall not be assignable, and shall be valid only
for the licensee OR EXEMPTION CERTIFICATE HOLDER in whose name
issued, and shall be displayed conspicuously in EACH [the
principal] place of business of said licensee OR EXEMPTION
CERTIFICATE HOLDER in the State of Maryland.

[(f)] (L) The Comptroller shall keep and file all
applications and bonds with an index thereof, together with a
record of all licensees AND EXEMPTION CERTIFICATE HOLDERS.

141.

(a)  Every bond required to be filed by this subtitle shall
be filed with the Comptroller [in such amount as the Comptroller
shall by regulation prescribe provided that]. THE BOND REQUIRED
OF A CLASS "U" SPECIAL FUEL USER AND OF A CLASS "S" SPECIAL FUEL
SELLER SHALL BE IN AN AMOUNT SET BY THE COMPTROLLER BUT in no
case shall bond be less than [one thousand ($1,000.00) dollars]
$1,000. [Such] EVERY bond REQUIRED TO BE FILED BY THIS SUBTITLE
shall be in such form as may be approved by the Comptroller,
shall be executed by some surety company duly licensed to do
business under the laws of the State of Maryland, and be
conditioned upon the prompt filing of true reports and the
payment by the licensee to the Comptroller of any and all motor
VEHICLE fuel taxes OR AVIATION FUEL TAXES which are now or which
hereafter may be levied or imposed by the State of Maryland,
together with any and all penalties and interest thereon, and
generally upon faithful compliance with the provisions of this
subtitle. Bonds of the United States, the State of Maryland, the
City of Baltimore, or any county or municipal corporation in this
State may be filed in lieu of the surety bond as required in this
section.

(b)  In the event that liability upon the bond thus filed by
the licensee with the Comptroller shall be discharged or reduced,
whether by judgment rendered, payment made or otherwise, or if in
the opinion of the Comptroller any surety on the bond theretofore
given shall have become unsatisfactory or unacceptable, then the
Comptroller may require the licensee to file a new bond with
satisfactory sureties in the same amount, failing which, the
Comptroller shall forthwith cancel the license [certificate] of
said licensee. If such new bond shall be furnished by said
licensee as above provided, the Comptroller shall cancel and
surrender the bond of said licensee for which such new bond shall
be substituted.