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PARRIS N. GLENDENING, Governor
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Ch. 539
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(C) IN ADDITION TO ANY SANCTIONS THAT MAY BE IMPOSED BY THE
COMMISSIONER UNDER THIS SUBTITLE, A LICENSEE WHO FAILS TO PROVIDE IN A
TIMELY MANNER THE NOTICE REQUIRED UNDER SUBSECTION (A)(1) OR (B)(1) OF THIS
SECTION SHALL:
(1) FOR EACH FAILURE, PAY TO THE COMMISSIONER A PENALTY IN THE
AMOUNT OF $500; AND
(2) FILE WITH THE. COMMISSIONER AN APPLICATION FOR A NEW
LICENSE, TOGETHER WITH ALL APPROPRIATE APPLICATION AND INVESTIGATION
FEES.
[12-413.] 12-416.
(a) Within 45 days of the end of each calendar semiannual period ENDING
JUNE 30 AND DECEMBER 31 [for which the licensee does not file an audited financial
statement], the licensee shall file with the Commissioner a report that includes THE
FOLLOWING INFORMATION ON A FORM THAT THE COMMISSIONER REQUIRES:
(1) An unaudited, unconsolidated [statement of income and a statement
of the condition of the licensee] FINANCIAL STATEMENT, INCLUDING A BALANCE
SHEET, INCOME STATEMENT, STATEMENT OF CHANGES IN EQUITY, AND STATEMENT
OF CASH FLOWS;
(2) A schedule of the permissible investments that the licensee holds as
required under [§ 12-414] § 12-418 of this subtitle; [and]
(3) A statement of outstanding payment instruments;
(4) A REPORT OF ALL AUTHORIZED DELEGATES THAT INCLUDES:
(I) AN ALPHABETICAL LIST OF ALL CURRENTLY AUTHORIZED
DELEGATES APPOINTED BY THE LICENSEE THAT INCLUDES THE NAME, BUSINESS
ADDRESS, BUSINESS PHONE NUMBER, AND BUSINESS E-MAIL ADDRESS, IF KNOWN
TO THE LICENSEE, OF EACH AUTHORIZED DELEGATE;
(II) AN ALPHABETICAL LIST OF ALL AUTHORIZED DELEGATES
APPOINTED BY THE LICENSEE DURING THE PREVIOUS 6 MONTHS THAT INCLUDES
THE NAME, BUSINESS ADDRESS, BUSINESS PHONE NUMBER, BUSINESS E-MAIL
ADDRESS, IF KNOWN TO THE LICENSEE. AND DATE OF APPOINTMENT OF EACH
AUTHORIZED DELEGATE; AND
(III) AN ALPHABETICAL LIST OF ALL AUTHORIZED DELEGATES
TERMINATED BY THE LICENSEE DURING THE PREVIOUS 6 MONTHS THAT INCLUDES
THE NAME, BUSINESS ADDRESS, BUSINESS PHONE NUMBER, BUSINESS E-MAIL
ADDRESS, IF KNOWN TO THE LICENSEE, AND DATE OF TERMINATION OF EACH
AUTHORIZED DELEGATE; AND
(5) A STATEMENT UNDER OATH BY AN EXECUTIVE OFFICER OF THE
LICENSEE CERTIFYING THE INFORMATION TO BE TRUE BASED ON THE EXECUTIVE
OFFICER'S KNOWLEDGE OF THE MATTERS IN THE REPORT.
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- 4077 -
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