Ch. 11                                      1996 LAWS OF MARYLAND

(2) SURPLUS IN AN AMOUNT NOT LESS THAN $10,000.

(B) MOTOR CLUBS WITHOUT CAPITAL STOCK.

A MOTOR CLUB FORMED UNDER THE LAWS OF THE STATE WITHOUT PAID-IN
CAPITAL STOCK SHALL HAVE AND MAINTAIN UNENCUMBERED ASSETS, IN
ADDITION TO REQUIRED RESERVES AND OTHER LIABILITIES, IN AN AMOUNT
EQUAL TO THAT REQUIRED UNDER SUBSECTION (A) OF THIS SECTION.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48B, § 3A.

In subsection (a) of this section, the former reference to a motor club
"commencing business in this State on or after July 1, 1981" is deleted as
obsolete because as of January 1, 1983, the same minimum capital and surplus
requirements applied to all motor clubs whenever they began business in the
State. Correspondingly, former Art. 48B, § 3A(c), which required compliance
with the minimum requirements by January 1, 1983, is deleted as obsolete.

Defined terms: "License" § 26-101
"Motor club" § 26-101

26-203. APPLICATIONS FOR INITIAL LICENSE.

(A)     IN GENERAL.

AN APPLICANT FOR AN INITIAL LICENSE SHALL:

(1)     FILE WITH THE COMMISSIONER AN APPLICATION ON THE FORM
THAT THE COMMISSIONER PROVIDES; AND

(2)      PAY TO THE COMMISSIONER AN APPLICATION FEE OF $200.

(B)     INFORMATION REQUIRED; EXECUTION UNDER OATH.

(1)     AN APPLICANT FOR A LICENSE SHALL SUBMIT TO THE
COMMISSIONER THE INFORMATION THAT THE COMMISSIONER CONSIDERS
REASONABLY NECESSARY TO DETERMINE, IN ACCORDANCE WITH THIS TITLE,
WHETHER TO ISSUE A LICENSE TO THE APPLICANT.

(2)     THE APPLICATION SHALL BE EXECUTED UNDER OATH BY THE
APPLICANT OR, IF THE APPLICANT IS NOT AN INDIVIDUAL, BY AN AUTHORIZED
OFFICER OF THE APPLICANT.

(C)     CONTENTS.

THE APPLICATION SHALL INCLUDE:

(1) IF THE APPLICANT IS A CORPORATION:

(I)      A CERTIFICATE OF GOOD STANDING FROM THE DEPARTMENT
OF ASSESSMENTS AND TAXATION;

(II)    THE NAMES AND ADDRESSES OF THE OFFICERS AND
DIRECTORS OF THE CORPORATION; AND

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