# Agriculture (GAG)

## Title 13. Grain

### Subtitle 2. Grain Dealers Licensing

#### Section 13-212

(a) A license may not be issued or renewed under this subtitle until the applicant has:

  (1)

    (i) Filed with the Secretary a financial statement, as provided in subsection (b) of this section, establishing the net worth of the applicant's grain business; or

    (ii) Posted a surety bond, irrevocable letter of credit, or cash guaranty at least as large as the following amounts for the different types of licenses:

    Type of license    Minimum amounts

    A        $?15,000 

    B        $35,000

    C        $100,000

    D        $100,000; and

  (2) Demonstrated proof of insurance coverage as required by this subtitle.

(b)

  (1) An applicant for a Type A or B license shall submit a financial statement that:

    (i) Is prepared and signed by a person other than the applicant or a member of the applicant's business or family;

    (ii) Establishes a net worth for the applicant; and

    (iii) Is signed by the applicant.

  (2) A Type C or D license may not be issued or renewed under this subtitle until the applicant has:

    (i) Filed with the Secretary a financial statement reviewed by a certified public accountant establishing the net worth of the applicant's business as provided in paragraph (3) of this subsection; or

    (ii) Filed with the Secretary a letter from a certified public accountant stating that a review of the applicant's business records shows a net worth as provided in paragraph (3) of this subsection.

  (3) The financial statement shall indicate a minimum net worth for each type of grain dealer's license as follows:

  Type of license    Minimum amounts

  A        $?15,000 

  B        $35,000

  C        $100,000

  D        $100,000

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Md. Code Ann., Agric. (as displayed at mgaleg.maryland.gov, October 16, 2026)