# COMAR Title 15 — Maryland Department of Agriculture

## Subtitle 19 — Grain Dealers' Licensing

### Chapter 01 — General Regulations

#### Regulation .06 Financial Statement.

*COMAR 15.19.01.06*

A. If the applicant chooses to file a financial statement, he shall indicate in the statement a minimum net worth for each type of grain dealer's license as follows:

B. If the applicant does not post a surety bond, irrevocable letter of credit or cash guaranty, the Department may not issue a:

  (1) Type A license if the financial statement indicates a minimum net worth less than $15,000;

  (2) Type B license if the financial statement indicates a minimum net worth less than $35,000; and

  (3) Type C or D license if the financial statement indicates a minimum net worth less than $100,000.

C. An applicant for a Type A or B license shall submit a financial statement that:

  (1) Is prepared and signed by a person who is not the applicant or a member of the applicant's business or family;

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

  (3) Is signed by the applicant.

D. An applicant for a Type C or D license shall file a:

  (1) Financial statement reviewed by a certified public accountant establishing the net worth of the applicant's business as provided in §A of this regulation; or

  (2) Letter from a certified public accountant stating that a review of the applicant's business records shows a net worth as provided in §A of this regulation.