PARRIS N. GLENDENING, Governor Ch. 23

(v) The name, business address, and nature of business of each agent
who is authorized to do business on behalf of the applicant.

(b) (1) With the application, the applicant shall submit the most recent
unconsolidated financial statement of the applicant.

(2) The statement shall:

(i) Be prepared in accordance with generally accepted accounting
principles applied on a consistent basis;

(ii) Be audited and certified by an independent certified public

accountant; and

(iii) Include a schedule of all of the permissible investments of the

applicant.

(c) With the application, the applicant shall pay to the Commissioner:

(1) An investigation fee of $500; AND

(2) [The agent fee required by § 12-411 of this subtitle; and

(3) ] A license fee of either:

(i) [$200] $400 if the applicant applies for the license on or after
January 1 and on or before [June 30] DECEMBER 31 OF AN EVEN-NUMBERED YEAR;
[or]

(ii) EFFECTIVE JANUARY 1, 1999, [$100] $200 if the applicant applies
for the license on or after [July] JANUARY 1 and on or before December 31 OF AN
ODD-NUMBERED YEAR; OR

(III) $400 IF THE APPLICANT APPLIES FOR THE LICENSE ON OR
AFTER OCTOBER 1, 1997 AND ON OR BEFORE DECEMBER 31, 1997.

(d) With the application, the applicant shall file a surety bond or deposit
permissible investments with the Commissioner as provided in § 12-410 of this subtitle.

(e) (1) For each license for which an applicant applies, the applicant shall:

(i) Submit a separate application;

(ii) Submit a separate financial statement; AND

(iii) Pay a separate license fee [; and

(iv) For each agent who is authorized to do business under each
license, pay the agent fee required by § 12-411 of this subtitle].

(2) If an applicant has or is applying for more than one license, the
applicant may comply with subsection (d) of this section by filing only one bond or
depositing only one set of permissible investments.

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