Section 26-306 – Cancellation of Authority of Representative
If a licensee cancels a representative’s authority to act for the licensee, the licensee immediately shall provide written notice of the cancellation to the Commissioner.
Section 26-307 – Denials and Revocations
(a) Subject to subsection (c) of this section, the Commissioner shall deny a registration to an appointee or revoke the registration of a registered representative if the Commissioner, for cause and after a hearing, determines that the appointee or representative: (1) has made a false or misleading statement about the services offered by, or the business of, […]
Section 26-308 – Judicial Review
A representative or appointee that is adversely affected by an order of the Commissioner may seek judicial review of the order in accordance with § 2-215 of this article.
Section 26-202 – Capital and Surplus Requirements
(a) To qualify for a license to engage in the business of a motor club, a motor club with capital stock must have and maintain: (1) paid-in capital stock with a fixed nominal or par value in an amount not less than $5,000; and (2) surplus in an amount not less than $10,000. (b) A motor club formed under […]
Section 26-203 – Applications for Initial License
(a) An applicant for an initial license shall: (1) file with the Commissioner an application on the form that the Commissioner provides; and (2) pay to the Commissioner an application fee of $200. (b) (1) An applicant for a license shall submit to the Commissioner the information that the Commissioner considers reasonably necessary to determine, in accordance with this title, […]
Section 26-204 – Evidence of Security
(a) An applicant for a license shall deposit with the Treasurer, who shall maintain in trust: (1) registered United States government bonds with a market value at all times not less than $100,000 or, in the discretion of the Commissioner, a lower amount not less than $15,000; (2) a corporate surety bond in the form that the Commissioner […]
Section 26-205 – Issuance or Disapproval of License
(a) Within a reasonable time after an application for a license is filed, the Commissioner shall issue a license to the applicant unless: (1) the applicant has not met all of the requirements of this title; (2) in the judgment of the Commissioner, the applicant does not have sufficient financial responsibility to engage in the business of a […]
Section 26-206 – Term and Renewal of License
(a) A license expires on the first December 31 after its effective date unless it is renewed as provided in this section. (b) At least 1 month before a license expires, the Commissioner shall send to the licensee, at the last known address of the licensee or electronic mail address of the holder on record a notice […]
Section 26-207 – Service of Process
(a) (1) Each licensee must appoint the Commissioner as attorney for service of process issued against the licensee under this title. (2) The appointment of the Commissioner must: (i) be in writing; and (ii) state that the licensee agrees that: 1. lawful process against the licensee that is served on the Commissioner, or in the Commissioner’s absence, on an employee in […]
Section 26-208 – Suspensions and Revocations
After notice and opportunity for a hearing, the Commissioner may suspend or revoke a license if the Commissioner finds that the licensee: (1) has violated any provision of this title; (2) has failed to maintain the standards required under this title for the issuance of an initial license; (3) is insolvent; (4) has liabilities that exceed its assets; (5) has […]