HARRY HUGHES, Governor                                      2757

Approved May 27, 1986.

CHAPTER 724

(House Bill 448)

AN ACT concerning

Maryland Securities Act - Filing Fees
For Broker-Dealers and Agents

FOR the purpose of repealing the maximum cumulative amount of
filing fees which may be collected for the initial or
renewal registration of broker-dealers and their agents
under the Maryland Securities Act; lowering the filing fee
for a renewal registration as an agent; making certain
stylistic changes; and generally relating to the filing fees
for broker-dealers and their agents under the Maryland
Securities Act.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations

Section 11-407

Annotated Code of Maryland

(1985 Replacement Volume and 1985 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Corporations and Associations

11-407.

(a)  (1) Every applicant for initial or renewal registration
as a broker-dealer shall pay a filing fee of $125.

(2)  Every applicant for initial [or renewal]
registration OR TRANSFER OF REGISTRATION as an agent shall pay a
filing fee of $25.

(3)  EVERY APPLICANT FOR RENEWAL REGISTRATION AS AN
AGENT SHALL PAY A FILING FEE OF $20.

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