Ch. 273                                          LAWS OF MARYLAND

ARTICLE XII
ACCOUNTS, RECORDS, AND REPORTS

1.  (A) THE COMMISSION MAY PRESCRIBE THAT ANY CARRIER
SUBJECT TO THIS ACT:

(I)  SUBMIT SPECIAL REPORTS AND ANNUAL OR OTHER
PERIODIC REPORTS;

(II)  MAKE REPORTS IN A FORM AND MANNER REQUIRED
BY THE COMMISSION;

(III)  PROVIDE A DETAILED ANSWER TO ANY QUESTION
ABOUT WHICH THE COMMISSION REQUIRES INFORMATION;

(IV)  SUBMIT REPORTS AND ANSWERS UNDER OATH; AND

(V)  KEEP ACCOUNTS, RECORDS, AND MEMORANDA OF
ITS ACTIVITY, INCLUDING MOVEMENT OF TRAFFIC AND RECEIPT AND
EXPENDITURE OF MONEY IN A FORM AND FOR A PERIOD REQUIRED BY THE
COMMISSION.

(B)  THE COMMISSION SHALL HAVE ACCESS AT ALL TIMES TO
THE ACCOUNTS, RECORDS, MEMORANDA, LANDS, BUILDINGS, AND EQUIPMENT
OF ANY CARRIER FOR INSPECTION PURPOSES.

(C)  THIS SECTION SHALL APPLY TO ANY PERSON
CONTROLLING, CONTROLLED BY, OR UNDER COMMON CONTROL WITH A
CARRIER SUBJECT TO THIS ACT, WHETHER OR NOT THAT PERSON OTHERWISE
IS SUBJECT TO THIS ACT.

(D)  A CARRIER THAT HAS ITS PRINCIPAL OFFICE OUTSIDE
OF THE METROPOLITAN DISTRICT AND OPERATES BOTH INSIDE AND OUTSIDE
OF THE METROPOLITAN DISTRICT MAY KEEP ALL ACCOUNTS, RECORDS, AND
MEMORANDA AT ITS PRINCIPAL OFFICE, BUT THE CARRIER SHALL PRODUCE
THOSE MATERIALS BEFORE THE COMMISSION WHEN DIRECTED BY THE
COMMISSION.

(E)  THIS SECTION DOES NOT RELIEVE A CARRIER FROM
RECORDKEEPING OR REPORTING OBLIGATIONS IMPOSED BY A STATE OR
FEDERAL AGENCY OR REGULATORY COMMISSION FOR TRANSPORTATION
SERVICE RENDERED OUTSIDE THE METROPOLITAN DISTRICT.

ISSUANCE OF SECURITIES

2.  THIS ACT DOES NOT IMPAIR ANY AUTHORITY OF THE FEDERAL
GOVERNMENT AND THE SIGNATORIES TO REGULATE THE ISSUANCE OF
SECURITIES BY A CARRIER.

CONSOLIDATIONS, MERGERS, AND ACQUISITION OF CONTROL

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