PARRIS N. GLENDENING, Governor

Ch. 5

12-411.

(a) Each agent that a licensee names under a license is the designated agent of
the licensee for all purposes in connection with the licensee's business under that license.
ANY VIOLATION OF THIS SUBTITLE BY ANY AGENT OF A LICENSEE SHALL BE
DEEMED TO BE THE RESPONSIBILITY OF THE LICENSEE.

(b) [Each licensee shall pay to the Commissioner, as provided in this section, an
annual agent fee of $4 for each agent of the licensee who is not a person exempted from
the licensing provisions of this subtitle by § 12-402 of this subtitle.] EACH AGENT THAT
A LICENSEE NAMES UNDER A LICENSE SHALL BE AUTHORIZED BY AN EXPRESS
WRITTEN CONTRACT, WHICH, FOR CONTRACTS ENTERED INTO AFTER OCTOBER 1,

1997, SHALL PROVIDE THE FOLLOWING:

(1) THAT THE LICENSEE APPOINTS THE PERSON AS ITS AGENT WITH
AUTHORITY TO ENGAGE IN THE BUSINESS OF MONEY TRANSMISSION ON BEHALF OF

THE LICENSEE;

(2) THAT NEITHER THE LICENSEE NOR THE AGENT MAY AUTHORIZE
SUBAGENTS WITHOUT WRITTEN CONSENT OF THE COMMISSIONER; AND

(3) THAT THE AGENT IS SUBJECT TO SUPERVISION AND REGULATION
BY THE COMMISSIONER.

(c) [With the application for a new license, the applicant shall pay for that license
year the required agent fee for each agent who is named in the application and for whom
a fee is required under subsection (b) of this section.]—COPIES OF ALL SUCH
CONTRACTS SHALL BE MADE AVAILABLE TO THE COMMISSIONER, UPON REQUEST.

(d) (1) On or before JANUARY 10 AND July 10 of each year, each licensee shall
file with the Commissioner a report that:

(i) Is in the form that the Commissioner requires; and

(ii) Is signed and verified by the licensee.

(2) [This report] THE REPORTS shall include, as of [July 1] THE
PRECEDING DECEMBER 31 OR JUNE 30, RESPECTIVELY [of that year]:

(I) AN ALPHABETICAL LISTING OF ALL AGENTS OF THE LICENSEE,
INCLUDING: NAME, BUSINESS ADDRESS, NATURE OF BUSINESS, AND DATE OF
APPOINTMENT OF EACH AGENT;

[(i)] (II) The name, business address, nature of business, and date of
appointment of each new agent appointed by the licensee [since December 1 of the
preceding year] DURING THE PREVIOUS 6 MONTHS; [and

(ii)] (III) The name of any agent whose agency has been canceled by
the licensee [since December 1 of the preceding year] DURING THE PREVIOUS 6
MONTHS; AND

(IV) ANY OTHER INFORMATION THAT THE COMMISSIONER

REQUIRES.

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