Section 10-206 - Bond required. - Maryland Statutes

§ 10-206. Bond required.
 

An applicant for a license shall file with the Commissioner a bond that: 

(1) is approved by the Commissioner as to form and sufficiency of security; 

(2) is executed by the applicant and an authorized surety insurer; 

(3) is in the penal sum of $1,000; 

(4) is conditioned on the applicant faithfully performing the duties of an adviser; 

(5) runs to the State; and 

(6) specifically authorizes the State to recover the penal sum of the bond if the applicant is guilty of fraudulent or dishonest practices while acting as an adviser. 
 

[An. Code 1957, art. 48A, § 182; 1995, ch. 36.]