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<section article="gca" article_name="Corporations and Associations" number="11-506" title_number="11" title_name="Maryland Securities Act" subtitle_number="5" subtitle_name="Registration of Securities">
  <level label="a">
    <text>Except as provided in § 11–510.1 of this subtitle, a person filing an application to register securities shall pay a fee of 0.1 percent of the maximum aggregate offering price at which the securities are to be offered in this State, but the fee may not be less than $500 or more than $1,500.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>Except as provided in paragraph (2) of this subsection, a person required to submit a filing in accordance with an exemption granted under this title shall pay a fee of $400 for each filing.</text>
    </level>
    <level label="2">
      <text>A person required to submit a filing in accordance with the exemption granted under § 11–601(16) of this title shall pay a fee of $100 for each filing.</text>
    </level>
    <level label="3">
      <text>A person required to submit a notice of the offer or sale of federal covered securities under § 11–503.1(c) of this subtitle shall pay:</text>
      <level label="i">
        <text>A fee of $100 for each filing; and</text>
      </level>
      <level label="ii">
        <text>An additional fee of $150 for each filing made after the filing due date.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The Commissioner shall retain the fee, if:</text>
    <level label="1">
      <text>An application to register securities is withdrawn before the effective date;</text>
    </level>
    <level label="2">
      <text>A notice of the offer or sale of a federal covered security is withdrawn; or</text>
    </level>
    <level label="3">
      <text>A preeffective stop order is entered under §§ 11–511 through 11–513 of this subtitle.</text>
    </level>
  </level>
</section>
