Maryland Insurance Section 10-206

      An applicant for a license shall file with the Commissioner a bond that:

            (1)      is approved by the Commissioner as to form and sufficiency of security;

            (2)      is executed by the applicant and an authorized surety insurer;

            (3)      is in the penal sum of $1,000;

            (4)      is conditioned on the applicant faithfully performing the duties of an adviser;

            (5)      runs to the State; and

            (6)      specifically authorizes the State to recover the penal sum of the bond if the applicant is guilty of fraudulent or dishonest practices while acting as an adviser.