Ch. 5                                        1993 LAWS OF MARYLAND

(ii) There shall be an affirmative vote of the stockholders holding a
majority of the stock;

(iii) At least 1 stockholder shall apply for the license as provided in this
section; and

(iv) The applicants or the corporation shall furnish annually to the
Board of License Commissioners a sworn statement giving the name and address of each
stockholder of the corporation and the number of shares that each stockholder owns in
his name on which he has a right to vote at any stockholder meeting.

[(5)] (6) [Nothing in this section shall] THIS SECTION DOES NOT apply to
racetrack licenses, Class BLX licenses, arena licenses, Class BCE (catering) licenses,
Class B/ECF (educational conference facility) licenses, or to businesses whose sales of
stock or interests are authorized for sale by the Securities and Exchange Commission of
the United States.

[(6)](7) Current licensees shall comply with the provisions of this section
by July 1, 1985.

DRAFTER'S NOTE:

Error: Plural noun, rather than singular, needed for "names"; and language
clarified.

Occurred: Ch. 536, Acts of 1992.

(k) In Harford County, if the application is made for a corporation, whether
incorporated or unincorporated or for a limited liability company:

(7) (i) "In this paragraph "owner" means a person who has a real,
provable financial interest in the business and includes a [stock holder] STOCKHOLDER
or managerial employee of the actual owner.

DRAFTER'S NOTE:

Error: "Stockholder" misspelled.

Occurred: Ch. 626, Acts of 1992.

(l) (3) Applicants for a license for the use of a corporation or limited liability
company shall submit to the Board of License Commissioners:

(ii) A schedule showing names, addresses, and percentages of all
stockholders holding a minimum of 5 percent OF the shares of stock of a corporation or
members holding a minimum of 5 percent of the interests of a limited liability company.

DRAFTER'S NOTE:

Error: Missing "of".

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