Ch. 510

LAWS OF MARYLAND

[(1) (i) Filed with the Secretary a financial

statement that is reviewed by a certified public accountant

establishing that the applicant's grain business has a net worth
of at least $100,000;

(ii) Filed with the Secretary a letter from a
certified public accountant stating that a review of the records
of the applicant's grain business shows a net worth of at least
$100,000; or

(iii) Posted a surety bond in the amount of
$100,000; and]

(1)(I) FILED WITH THE SECRETARY A FINANCIAL STATEMENT
, AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, ESTABLISHING THE
NET WORTH OF THE APPLICANT'S GRAIN BUSINESS; OR

(II) POSTED A SURETY BOND, IRREVOCABLE LETTER"
OF CREDIT, OR CASH GUARANTY AT LEAST AS LARGE AS THE FOLLOWING
AMOUNTS FOR THE DIFFERENT TYPES OF LICENSES:

TYPE OF LICENSE                             MINIMUM AMOUNTS

A                                                           $15,000

B                                                             $3 5,000

C                                                             $100,000

d                                                       $250,000

$100,000; AND

(2) Demonstrated proof of insurance coverage as
required by this subtitle.

(B) A TYPE C OR D LICENSE MAY NOT BE RENEWED UNDER THIS
SUBTITLE UNTIL THE APPLICANT HAS SUBMITTED A FINANCIAL STATEMENT
THAT WAS PREPARED OR REVIEWED BY A CERTIFIED PUBLIC ACCOUNTANT
WHO CERTIFIES IN WRITING TO THE NET WORTH OF THE APPLICANT'S
GRAIN BUSINESS.

(1) AN APPLICANT FOR A TYPE A OR B LICENSE. SHALL
SUBMIT A FINANCIAL STATEMENT THAT;

(I) IS PREPARED AND SIGNED BY A PERSON OTHER
THAN THE APPLICANT OR A MEMBER OF THE APPLICANT'S BUSINESS OR
FAMILY;

(II) ESTABLISHES A NET WORTH FOR THE APPLICANT;
AND

(III) IS SIGNED BY THE APPLICANT.

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