The Commission may require an applicant or licensee to obtain a bond before the Commission issues or reissues a license. A bond shall be for the benefit of the State for the faithful performance of the requirements imposed by Maryland Criminal Law Article, §12-301.1, Annotated Code of Maryland, and any regulations issued under that section. The Commission may not issue or reissue a license unless it has received satisfactory proof of a bond. The Commission may apply a bond to the payment of an unpaid liability of the applicant or licensee.