WILLIAM DONALD SCHAEFER, Governor                      Ch. 29

issued. The license may be renewed upon annual application and
payment of the required fee.

[(d)] (E) (1) The Department may refuse to issue a license
or, after written notice to the licensee and a hearing, may
cancel a license when it determines that the applicant or
licensee has failed to comply with the provisions of this
subtitle.

(2) On petition of the Consumer Protection Division
of the Office of the Attorney General, and after written notice
to a licensee and a hearing, the Department may revoke or suspend
the license of a dealer if the Department determines that the
licensee has violated §§ 13-301 or 13-303 of the Commercial Law
Article.

[(e)] (F) If, during the period for which a dealer's or
manufacturer's license is issued, there is any change in the
factual information furnished to the Department by the licensee
in connection with obtaining or retaining the license, or a
renewal of it, the change shall be truly, fully, and promptly
communicated to the Department in writing on forms provided by
the Department. The applicant shall sign the form and certify
that the information given is true and correct.

8-710.2.

(d) (1) There is a special fund called the Boat Dealer
Assurance Fund. All fees collected by the Department under this
section shall be credited to the Fund [until the Fund accumulates
$25,000].

(2)  The Fund shall be used exclusively as provided in
this subsection to pay title taxes and fees that boat dealers AND
MANUFACTURERS have failed to forward to the Department.

(3)  A payment may be made under this section only if:

(i) A member of the public demonstrates that
title taxes and application fees were paid to a dealer AND A
MANUFACTURER; and

(ii) The dealer OR MANUFACTURER has failed to
forward the taxes and fees to the Department as required by this
subtitle.

(4)  ATTAINMENTS TO THE FUND IN EXCESS OF AN
ACCUMULATED BALANCE OF $100,000 MAY BE EXPENDED BY THE DEPARTMENT
FOR ANY PURPOSE AUTHORIZED UNDER § 8-723 OF THIS SUBTITLE.
HOWEVER, ANY FUNDS NOT EXPENDED PURSUANT TO THIS SUBSECTION OR §
8-723 OF THIS SUBTITLE SHALL REMAIN IN THE FUND AND MAY NOT
REVERT TO THE GENERAL FUND.

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