PARRIS N. GLENDENING, Governor                               Ch. 58

(1)     the applicant fraudulently or deceptively obtains or attempts to obtain a
license for the applicant or for another person;

(2)     the applicant fraudulently uses a license;

(3)     the applicant:

(i) has had a license revoked; or

(ii) is responsible for an act or omission that resulted in revocation of
a license; [or]

(4)     a person who, when the application is submitted, is an agent, director,
employee, member, officer, owner, partner, or spouse of the applicant:

(i) has had a license revoked; or

(ii) is responsible for an act or omission that resulted in revocation of
a license; OR

(5)     OTHERWISE FAILS TO MEET THE REQUIREMENTS FOR LICENSURE.
7-304.

(a) [If an applicant qualifies for a license, the Board shall send the applicant a
notice that states that:

(1)     the applicant has qualified for a license; and

(2)     the Board will issue the license to the applicant after the applicant
submits to the Commissioner evidence of a surety bond, as provided in subsection (b) of
this section.

(b)] (1) An applicant for a license shall execute a surety bond for the benefit of
any member of the public who has a loss or other damage as a result of a violation of this
title, OR THE MARYLAND CONSUMER DEBT COLLECTION ACT, OR THE FEDERAL
FAIR DEBT COLLECTION PRACTICES ACT by the applicant or an agent or employee of
the applicant.

(2)     The surety bond shall be:

(i) in a form that the Board approves;

(ii) with a surety that the Board approves; and

(iii) in the amount of $5,000.

(3)     The total liability of a surety on a bond under this section may not
exceed the amount of the bond, regardless of the number or amount of claims against the
bond.

(4)     If the amount of claims against a bond exceeds the amount of the bond,
the surety:

- 1113 -