WILLIAM DONALD SCHAEFER, Governor

Ch. 3

(B)  REINSTATEMENT OF LICENSE.

THE COMMISSION MAY NOT REINSTATE A LICENSE THAT IS SUSPENDED
UNDER THIS SECTION UNTIL THE INDIVIDUAL WHOSE LICENSE WAS
SUSPENDED:

(1)  REPAYS IN FULL:

(I)  THE AMOUNT PAID BY THE GUARANTY FUND; AND

(II)  THE INTEREST DUE UNDER § 16-411(A)(2) OF
THIS SUBTITLE; AND

(2)  APPLIES TO THE COMMISSION FOR REINSTATEMENT OF
THE LICENSE.

(C)  EFFECT ON DISCIPLINARY PROCEEDING.

REGARDLESS OF WHETHER THE DISCIPLINARY SANCTION WAS IMPOSED
FOR THE SAME ACT OR OMISSION THAT GAVE RISE TO THE CLAIM AGAINST
THE GUARANTY FUND, THE REIMBURSEMENT OF THE GUARANTY FUND BY A
LICENSEE DOES NOT AFFECT ANY SANCTION IMPOSED BY THE COMMISSION
AGAINST AN INDIVIDUAL UNDER THE DISCIPLINARY PROVISIONS OF
SUBTITLE 3 OF THIS TITLE.

REVISOR'S NOTE: This section formerly appeared as Art. 56A,
§ 4-412.

The only changes are in style.

Defined terms: "Commission" § 16-101
"Guaranty Fund" § 16-101 "License" § 16-101

SUBTITLE 5. MISCELLANEOUS PROVISIONS.

PART I. TRUST ACCOUNTS.

16-501. DEFINITIONS.

(A)  IN GENERAL.

IN THIS PART I OF THIS SUBTITLE THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

REVISOR'S NOTE: This subsection formerly appeared as Art.
56A, § 5-101(a).

There are no changes.

(B)  BENEFICIAL OWNER.

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