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S.B. 450
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VETOES
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12-108.
(A) (1) TO APPLY FOR A LICENSE, AN APPLICANT SHALL SUBMIT TO THE
COMMISSIONER AN APPLICATION ON THE FORM THAT THE COMMISSIONER
REQUIRES.
(2) THE APPLICATION SHALL INCLUDE:
(I) THE APPLICANTS NAME AND ADDRESS AND, IF THE APPLICANT
IS NOT AN INDIVIDUAL, THE NAMES AND ADDRESSES OF EACH:
1. OWNER WHO OWNS 5% OR MORE OF THE ENTITY; AND
2. OFFICER, DIRECTOR, OR PRINCIPAL OF THE ENTITY;
(II) 1. THE ADDRESS AT WHICH CHECK CASHING SERVICES WILL
BE PROVIDED; OR
2. IF THE LICENSE IS FOR A MOBILE UNIT, THE VEHICLE
IDENTIFICATION NUMBER OF THE MOBILE UNIT AND THE GEOGRAPHIC AREA IN
WHICH THE MOBILE UNIT WILL BE OPERATING; AND
(III) ANY OTHER INFORMATION THAT THE COMMISSIONER
REQUIRES FOR AN INVESTIGATION AND FINDINGS UNDER § 12-109 OF THIS
SUBTITLE.
(B) WITH THE APPLICATION, THE APPLICANT SHALL PAY TO THE
COMMISSIONER:
(1) AN INVESTIGATION FEE OF $100; AND
(2) A LICENSE FEE OF:
(I) $1,000 IF THE APPLICANT APPLIES FOR A LICENSE TO BE
ISSUED ON OR AFTER JANUARY 1 AND ON OR BEFORE DECEMBER 31 OF AN
EVEN-NUMBERED YEAR; OR
(II) $500 IF THE APPLICANT APPLIES FOR A LICENSE TO BE ISSUED
ON OR AFTER JANUARY 1 AND ON OR BEFORE DECEMBER 31 OF AN ODD-NUMBERED
YEAR
(C) (1) WITH THE APPLICATION, THE APPLICANT SHALL FILE WITH THE
COMMISSIONER A SURETY BOND.
(2) THE SURETY BOND FILED UNDER THIS SUBSECTION SHALL RUN TO
THE STATE FOR THE BENEFIT OF INDIVIDUALS WHO HAVE BEEN DAMAGED BY A
VIOLATION OF ANY LAW OR REGULATION GOVERNING CHECK CASHING SERVICES
THAT IS COMMITTED BY A LICENSEE.
(3) THE SURETY BOND SHALL BE;
(I) IN THE AMOUNT OF AT LEAST $50,000,
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- 3874 -
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