854                                  Laws of Maryland                          [Ch. 515

(4) The Insurance Commissioner shall appoint an Advisory Board
of eight persons to make recommendations to him with respect to the
examinations required by this sub-section. This Advisory Board shall
consist of individuals experienced in the life insurance business, and
may include life insurance company officers and employees, general
agents and managers, and licensed life insurance agents. The mem-
bers of the Board shall serve without pay. The original appointments
shall be made in such a manner that the term of two members shall
expire on July 1, 1958 1960, the term of another two members shall
expire on July 1, 1959 1961, and the term of another two members
shall expire on July 1, 1960 1962, and the term of the remaining two
members shall expire on July 1, 1961 1963. Their successors shall be
appointed for terms of four years from the dates of expiration of
their respective terms of office, except that any person appointed to
fill a vacancy shall serve only for the unexpired term, and any member
of the Advisory Board shall be eligible for reappointment.

(f)  Issuance or Refusal of License.

(1)  If the Insurance Commissioner is satisfied that the applicant
is qualified and the applicant, if required, has passed his written
examination, a license shall become effective immediately and a cer-
tificate issued, limited to the insurer and kind of insurance for which
the agent is to be appointed. PROVIDED THAT NO LICENSE
SHALL BE ISSUED UNDER THIS SECTION TO ANY PERSON
WHO HAD NOT, FOR A PERIOD OF SIX MONTHS PRIOR TO
MAKING APPLICATION FOR A LICENSE HEREIN, RESIDED
IN THIS STATE UNTIL AND UNLESS SUCH PERSON SHALL
FURNISH A BOND IN THE AMOUNT OF $1,000 IN FORM AP-
PROVED BY THE INSURANCE COMMISSIONER AND SHALL
MAINTAIN AND KEEP IN FORCE SAID BOND FOR A PERIOD

OF ONE YEAR FROM THE DATE OF ISSUANCE OF THE
LICENSE APPLIED FOR AND AT THE END OF SUCH TIME

THE SAID BOND SHALL NO LONGER BE REQUIRED. FAIL
URE TO MAINTAIN THE BOND AS REQUIRED SHALL BE
GROUNDS FOR REVOCATION OF ANY LICENSE. If the appli-
cant has not passed his written examination, or for any of the
reasons set forth in Sub-section (l) below, the Insurance Commis-
sioner shall within fifteen days thereafter notify the applicant and
the insurer in writing that a license will not be issued to him and the
reasons therefor.

(2)  In any case where a license is applied for to represent an
insurer authorized in this State to transact an accident and health,
as well as a life insurance business, the Insurance Commissioner shall
issue a single license authorizing the applicant to represent the
insurer with respect to both types of business. As used in this sub-
section, life insurance shall include additional benefits in the event
of disability, dismemberment or loss of eyesight, or death by acci-
dental means or by accident, which are contained in any life insur-
ance policy.

(g)  Non-residents May Be Licensed.

(1) A person not resident in this State may be licensed as a life
insurance agent upon compliance with the provisions of this section,
provided that the state in which such person resides will accord the
same privilege to a citizen of this State.