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PARRIS N. GLENDENING, Governor
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Ch. 272
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Annotated Code of Maryland
(2000 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 8-701(g) through (s), respectively, of Article - Natural
Resources of the Annotated Code of Maryland be renumbered to be Section(s)
8-701(h) through (t), respectively.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Natural Resources
8-701.
(c) (1) "Dealer" means any person who:
(i) Engages in whole or in part in the business of buying, selling, or
exchanging new and unused vessels or used vessels, or both, either outright or on
conditional sale, bailment, lease, chattel mortgage, or otherwise; and
(ii) Has an established place of business for sale, trade, and display
of vessels.
(2) "Dealer" includes:
(I) [a] A yacht broker; AND
(II) A HOLDER OF A LIEN CREATED UNDER TITLE 16, SUBTITLE 2 OF
THE COMMERCIAL LAW ARTICLE WHO SELLS THE VESSEL PURSUANT TO THAT TITLE,
INCLUDING AN AUCTIONEER AND A COMPANY COMMONLY KNOWN AS A LIEN AND
RECOVERY COMPANY.
(G) "MARINE REPAIR CONTRACTOR" MEANS A PERSON OR ENTITY ENGAGED
FULL TIME IN THE BUSINESS OF PROVIDING MAINTENANCE, REPAIR, OR SIMILAR
SERVICES TO VESSELS.
(p) "State of principal use" means the state on whose waters a vessel is used or
to be used most during a calendar year WHICH IS THE PERIOD FROM JANUARY 1
THROUGH DECEMBER 31.
8-710.1.
(a) Prior to the issuance of a boat dealer's or manufacturer's license, each
applicant shall file with the Department acceptable evidence of a bond or other
security deemed sufficient and adequate by the Department for the payments fees
and taxes the applicant receives based upon the applicant's volume of sales and the
class of boat dealer's or manufacturer's license which the applicant has requested.
The bond shall be for the use and benefit of the Department and any member of the
public who suffers or sustains any loss by reason of any violation of this subtitle by
the licensee, the licensee's agent, or the licensee's employee. THE DEPARTMENT MAY
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- 2083 -
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