PARRIS N. GLENDENING, Governor                                  Ch. 11

Defined term: "Commissioner" § 1-101
23-205. TERM AND RENEWAL OF REGISTRATION.

(A)     TERM OF REGISTRATION.

A REGISTRATION EXPIRES ON THE FIRST JULY 1 AFTER ITS EFFECTIVE DATE
UNLESS IT IS RENEWED AS PROVIDED IN THIS SECTION.

(B)      RENEWAL OF REGISTRATION.

BEFORE A REGISTRATION EXPIRES, THE REGISTRANT MAY RENEW IT FOR AN
ADDITIONAL 1-YEAR TERM IF THE REGISTRANT:

(1)      OTHERWISE IS ENTITLED TO BE REGISTERED; AND

(2)      PAYS TO THE COMMISSIONER A RENEWAL FEE OF $25.

(C)     ISSUANCE OF RENEWAL.

THE COMMISSIONER SHALL RENEW THE REGISTRATION OF EACH REGISTRANT
THAT MEETS THE REQUIREMENTS OF THIS SECTION.

REVISOR'S NOTE: This section is new language derived without substantive
change from the fourth sentence of former Art. 48A, § 486B(a)(1).

Subsection (b)(1) of this section is revised in standard language to state
expressly that to renew a registration the registrant must be entitled to be
registered.

Defined term: "Commissioner" § 1-101
23-206. CHANGE OF INFORMATION.

THE COMMISSIONER SHALL REQUIRE A PREMIUM FINANCE COMPANY TO
REPORT, ON FORMS PROVIDED BY THE COMMISSIONER, CHANGES IN OFFICERS,
DIRECTORS, OWNERS, TRADE NAMES, AND BUSINESS ADDRESSES.

REVISOR'S NOTE: This section is new language derived without substantive
change from the third sentence of former Art. 48A, § 486B(a)(1).

Defined terms: "Commissioner" § 1-101
"Premium finance company" § 23-101

23-207. RECORDS.

EACH PREMIUM FINANCE COMPANY:

(1)      SHALL MAINTAIN RECORDS OF ITS PREMIUM FINANCE
TRANSACTIONS FOR AT LEAST 3 YEARS;

(2)      SHALL ALLOW THE COMMISSIONER TO EXAMINE THE RECORDS;
AND

(3)      MAY KEEP THE RECORDS IN PHOTOGRAPHIC OR FACSIMILE FORM.

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