any documents required under § 13-113 of this article to the Administration within
10 days after the date of delivery of the vehicle.]

15-308.

(a) After the Administration notifies an applicant of the approval of an
application and before the Administration issues a license, the applicant shall file
with the Administration a surety bond in the form and with the surety that the
Administration approves.

(b) The amount of the surety bond shall be:

(1) For a licensee who is licensed to deal only in trailers or semitrailers
15 feet or less in length, or only in boat trailers of any size — [$1,000; and] $5,000;

[(2) For any other licensee — $15,000.]

(2) FOR A LICENSEE WHO IS LICENSED TO DEAL IN THE SALE OF NEW
MOTOR VEHICLES, AN AMOUNT BASED ON THE NUMBER OF NEW MOTOR VEHICLE
SALES DURING THE PRECEDING LICENSE YEAR, ACCORDING TO THE FOLLOWING
SCHEDULE:

(I) 1 TO 500 VEHICLES — $50,000; AND

(II) OVER 500 VEHICLES — $100,000 $75,000; AND

(3) FOR A LICENSEE WHO IS LICENSED TO DEAL ONLY IN THE SALE OF
USED MOTOR VEHICLES, INCLUDING WHOLESALERS, AN AMOUNT BASED ON THE
NUMBER OF USED VEHICLE SALES DURING THE PRECEDING LICENSE YEAR,
ACCORDING TO THE FOLLOWING SCHEDULE:

(I) 1 TO 250 VEHICLES — $15,000;

(II) 251 TO 500 VEHICLES — $25,000; AND

(II) (III) OVER 500 VEHICLES — $50,000 $35,000.

(C) (1) THIS SUBSECTION APPLIES ONLY TO AN APPLICANT WHO:

(I) APPLIES FOR A LICENSE TO DEAL IN THE SALE OF NEW OR
USED MOTOR VEHICLES; AND

(II) WAS NOT LICENSED TO SELL MOTOR VEHICLES DURING THE
PRECEDING LICENSE YEAR

(2) SUBJECT TO PARAGRAPH (3) OF THIS SUBSECTION, THE
ADMINISTRATION SHALL BASE THE AMOUNT OF A SURETY BOND FOR AN APPLICANT
DESCRIBED IN PARAGRAPH (1) OF THIS SUBSECTION ON THE ESTIMATED VOLUME
OF SALES IN THE INITIAL YEAR IN WHICH THE LICENSE IS IN EFFECT

(3) THE AMOUNT OF THE SURETY BOND UNDER PARAGRAPH (2) OF THIS
SUBSECTION MAY NOT BE LESS THAN:

(I) FOR AN APPLICANT FOR A LICENSE TO DEAL IN THE SALE OF
NEW MOTOR VEHICLES, $50,000; OR