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PARRIS N. GLENDENING, Governor
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S.B. 774
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(1) Complies with [§12-406] § 12-107 of this subtitle; and
(2) Otherwise meets the requirements of this subtitle.
(D) A LICENSE MAY NOT BE TRANSFERRED OR ASSIGNED.
(E) (1) (I) IF THE LICENSEE HAS ITS HEADQUARTERS IN THE STATE, THE
LICENSEE SHALL PROMINENTLY DISPLAY THE LICENSE IN THE LOCATION THAT IS
OPEN TO THE PUBLIC AND AT WHICH THE LICENSEE ENGAGES IN THE BUSINESS OF
MONEY TRANSMISSION.
(II) IF THE LICENSEE HAS ITS HEADQUARTERS OUTSIDE THE
STATE, THE LICENSEE SHALL MAINTAIN THE LICENSE IN THE HEADQUARTERS.
(2) EACH AUTHORIZED DELEGATE SHALL DISPLAY PROMINENTLY AT
EACH LOCATION OPEN TO THE PUBLIC A NOTICE IN AT LEAST 48-POINT TYPE THAT
STATES THE FOLLOWING:
"THE COMMISSIONER OF FINANCIAL REGULATION FOR THE. STATE OF
MARYLAND WILL ACCEPT ALL QUESTIONS OR COMPLAINTS REGARDING THIS
AUTHORIZED DELEGATE OF (NAME OF LICENSEE) AT (ADDRESS OF COMMISSIONER),
PHONE (TOLL-FREE PHONE NUMBER OF THE COMMISSIONER)".
(3) A LICENSEE THAT OFFERS INTERNET MONEY TRANSMISSION
SERVICES SHALL INCLUDE THE FOLLOWING NOTICE ON ITS WEB SITE:
"THE COMMISSIONER OF FINANCIAL REGULATION FOR THE STATE OF
MARYLAND WILL ACCEPT ALL QUESTIONS OR COMPLAINTS FROM MARYLAND
RESIDENTS REGARDING (NAME OF LICENSEE) AT (ADDRESS OF COMMISSIONER),
PHONE (TOLL-FREE PHONE NUMBER OF THE COMMISSIONER)".
[12-409.] 12-411.
(a) [(1)]A license issued [on or before September 30, 1997] UNDER THIS
SUBTITLE expires on December 31 of [the year in which it was issued,] EACH ODD-
NUMBERED YEAR unless it is renewed for a 2-year term as provided in SUBSECTION
(B) OF this section.
[(2) A license issued on or after October 1, 1997 expires on December 31
in each odd-numbered year after December 31, 1997, unless it is renewed for a
2-year term as provided in this section.]
(b) On or before December 1 of the year of expiration, a license may be
renewed for [an additional 2 years] A 2-YEAR TERM, if the licensee:
(1) Otherwise is entitled to be licensed;
(2) Files [any bond renewal certificate or new bond or deposits any new
permissible investments] EVIDENCE OF A SURETY DEVICE required [by § 12-410]
UNDER § 12-412 of this subtitle;
(3) Pays to the Commissioner a [license] RENEWAL fee of [$400] $4,000;
and
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- 4857 -
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