PARRIS N. GLENDENING, Governor                             S.B. 380

(i) exempts the sale or transaction, by regulation or order, as not
being within the purposes of this subtitle; and

(ii) finds the registration of the sale or transaction to be unnecessary,
inappropriate, not in the public interest, or not for the protection of investors.

(B) NET WORTH MAY BE DETERMINED ON A CONSOLIDATED BASIS IF:

(1)     AT LEAST 80% OF THE SELLER IS OWNED BY ONE PERSON; AND

(2)     THE PERSON THAT OWNS AT LEAST 80% OF THE SELLER EXPRESSLY
GUARANTEES THE OBLIGATIONS OF THE SELLER WITH REGARD TO THE OFFER OR
SALE OF A BUSINESS OPPORTUNITY THAT THE SELLER SEEKS TO EXCLUDE UNDER
THIS PARAGRAPH.

14-105.

The Commissioner may delegate any power or duty of the Commissioner under this
subtitle.

14-106.

To enforce this subtitle, the Commissioner may pass orders and adopt regulations
and forms.

14-107.

The Commissioner may:

(1)     publish information about violations of this subtitle and of regulations
adopted and orders passed under it;

(2)     report to the appropriate law enforcement officer information about
violations of this subtitle; and

(3)     help, develop, and hold programs of public education and information
about this subtitle.

14-108.

The Commissioner may investigate in or outside the State to:

(1)     determine if a person has violated this subtitle;

(2)     adopt regulations or forms under this subtitle; or

(3)     enforce this subtitle.
14-109.

(a)     The Commissioner may hold public hearings in connection with an
investigation under this subtitle.

(b)     Unless otherwise provided in this subtitle or in regulations adopted under it,
the Commissioner shall hold hearings authorized by this subtitle in accordance with Title
10 of the State Government Article.

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