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Timestamp: 2019-04-23 18:32:05+00:00

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112 records match your request.
09.03.01.11.htm 09.03.01.11. 11 Accounting Procedures and Records Retention.. A. A credit union shall maintain books and financial records that:. 1) Accurately and fully reflect the fiscal affairs of the credit union; and. 2) Are sufficient to enable an independent certified public accountant to perform a complete audit of the credit union.B. A credit union shall maintain at least the following types of financial records:. 1) Cash receipts journal;. 2) Cash disbursements journal;. 3) General ledger;.
09.03.01.12.htm 09.03.01.12. 12 and .13 Repealed..
09.03.01.17.htm 09.03.01.17. 17 Boards of Directors ― Electronically Conducted Elections.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Electronically” means the use of one or more electronic devices.. 2) “Electronic device” means a device having electrical, digital, magnetic, wireless, optical, electromagnetic or similar capabilities and may include, but is not limited to, telephones, voice response units, computer systems, and electronic mail systems.
09.03.03.03.htm 09.03.03.03. 03 Publication.. Within 30 calendar days after an application is filed with the Commissioner of Financial Regulation, he shall publish in the Maryland Register a notice containing the name of the applicant, its proposed location, the subject matter of the application, and the date upon which the application was filed.
09.03.03.04.htm 09.03.03.04. 04 Solicitation of Comments.. In addition to publication under Regulation .03 of this chapter, the Commissioner of Financial Regulation may solicit comments from each person or organization he believes has information concerning the application.
09.03.03.05.htm 09.03.03.05. 05 Comments and Request for a Hearing.. Any interested person or organization may submit to the Commissioner of Financial Regulation written comments concerning the application. These comments and all requests for a hearing should be received by the Commissioner of Financial Regulation within 20 calendar days from the date of publication under Regulation .03 of this chapter.
09.03.03.06.htm 09.03.03.06. 06 Public Information.. The Commissioner's file on the application shall include all information received from any person or organization in regard to that application. The information available for public inspection consists of that portion of the file which may be disclosed under State Government Article, Title 10, Subtitle 6 (Access to Public Records) and Financial Institutions Article, §5-209 (Confidentiality of Information) Annotated Code of Maryland.
09.03.03.07.htm 09.03.03.07. 07 Scheduling of a Hearing.. The Commissioner of Financial Regulation may schedule a hearing on the application in the following instances:A. Upon a request made within the time limit set forth in Regulation .05 of this chapter by a person or organization other than the applicant, unless the Commissioner of Financial Regulation finds that the objections raised to the application are frivolous and insubstantial;B. Upon specific request of the applicant in the application; or.
09.03.03.08.htm 09.03.03.08. 08 Notice of Hearings.. If a hearing is scheduled, at least 20 calendar days before the scheduled date of the hearing, notice shall be mailed to:A. The applicant;. B. Those who made a timely request for a hearing under Regulation .05 of this chapter; and. C. Other persons designated by the Presiding Officer..
09.03.03.10.htm 09.03.03.10. 10 Decision.. If a hearing is held, the Presiding Officer shall state his decision and reasons for it in writing. A copy of the decision and reasons shall be mailed to all parties.
09.03.03.11.htm 09.03.03.11. 11 Retained Authority.. If the Presiding Officer in his sole discretion determines that the operation of any of the aforegoing rules in a particular case would not aid him in fulfilling his statutory duties, and if he shall also determine that the suspension or modification of the rule in question would not prevent him from handling the application in an efficient and orderly manner, he may suspend or modify the rule accordingly and shall so notify the parties.
09.03.03.9999.htm 09.03.03.9999. Administrative History Effective date: January 14, 1976 (3:3 Md. R. 146). Regulation .01 amended effective July 9, 2012 (39:13 Md. R. 785). Regulations .07 and .11 amended effective March 9, 1977 (4:5 Md. R. 372).
09.03.04.02.htm 09.03.04.02. 02 Application of Proceeds of Resale by Holder of Repossessed Goods.. A. In all cases of private sale of repossessed goods, a full accounting shall be made to the buyer in writing. The seller shall retain a copy of this accounting for at least 24 months.B. The accounting shall contain the following information:. 1) The unpaid balance at the time the goods were repossessed;. 2) The refund credit of unearned finance charges and insurance premiums, if any;.
09.03.04.9999.htm 09.03.04.9999. Administrative History Effective date: June 12, 1981 (8:12 Md. R. 1061). Chapter recodified from COMAR 09.04.03 to COMAR 09.03.04, April, 1998. Regulation .02 amended effective September 7, 1998 (25:18 Md. R. 1434).
09.03.05.00.htm 09.03.05.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 03 COMMISSIONER OF FINANCIAL REGULATION Chapter 05 Code of Conduct ― Mortgage Brokers and Mortgage Bankers ― Repealed Administrative History Effective date: November 14, 1980 (7:23 Md. R. 2165)Regulations .02B and .10 amended effective August 16, 1982 (9:16 Md. R. 1604). Regulation .16 adopted effective August 16, 1982 (9:16 Md. R. 1604). Chapter repealed effective March 13, 2006 (33:5 Md. R. 519).
09.03.06.01.htm 09.03.06.01. 01 Scope.. This chapter governs the conduct of any person engaged in mortgage lending, mortgage brokering, or mortgage servicing of loans secured by residential real estate located in this State, unless specifically exempt from licensure under Financial Institutions Article, §11-502, Annotated Code of Maryland.
09.03.06.02.htm 09.03.06.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Advertisement" means a statement in any medium used or intended to induce any person to apply for a mortgage loan.2) "Annual percentage rate (APR) under §B(13) of this regulation, has the meaning stated in 12 CFR Part 226.3) Applicant.. a) "Applicant" means a borrower who has not received a commitment from a licensee to make the loan requested.
09.03.06.07.htm 09.03.06.07. 07 Agreements with the Borrower.. A. Written Agreements.. 1) Agreements between a borrower and a licensee shall be:. a) In writing; and. b) Provided to the borrower following execution by all parties.. 2) Exact copies of original documents may be provided to the borrower to satisfy this section.. B. Agreements in Blank.. 1) A person may not obtain a borrower's or guarantor's signature on any of the following documents if blanks remain to be filled in after execution bya) A note;.
09.03.06.10.htm 09.03.06.10. 10 Closing.. A. Disbursement of Loan Proceeds.. 1) A licensee shall disburse all loan proceeds in a timely manner as provided in the loan documents.. 2) Disbursement of all loan proceeds to a third-party closing agent is deemed compliance with this section.B. A licensee may not collect a separate settlement fee in a loan when closing is conducted by:. 1) The lender;. 2) A subsidiary of the lender;. 3) A sister corporation of the lender;. 4) An owner or part owner of the lender;.
09.03.06.13.htm 09.03.06.13. 13 Payoff and Accounting Statements-Releases.. A. Within 5 business days after written request by the borrower, a licensee shall provide the borrower or the borrower's designee with a written statement of the dollar figure which will repay a loan in full.B. Upon written request by the borrower, a licensee shall provide, within a reasonable time, but not in excess of 45 days, an accounting statement to the borrower, setting forth:1) All payments made on the loan;.
09.03.06.14.htm 09.03.06.14. 14 Waivers.. A. An act, agreement, or statement of an applicant may not constitute a valid waiver of any benefit or protection provided to an applicant under these regulations or applicable law.B. Nothing in this regulation affects the validity of any waiver specifically permitted under the Commercial Law Article, Annotated Code of Maryland.
09.03.06.15.htm 09.03.06.15. 15 Bonds, Letters of Credit, and Trust Accounts.. A. A bond, letter of credit, or trust account established to meet the requirements of Financial Institutions Article, §11-508, Annotated Code of Maryland, shall be structured and maintained so that it is available for and subject to claims for 1 year following the expiration of the period for which it is issued.B. A separate bond coverage, letter of credit, or trust account shall be obtained for each licensing period.
09.03.06.16.htm 09.03.06.16. 16 Enforcement.. A person who violates these regulations is subject to the enforcement provisions of Financial Institutions Article, §11-517, Annotated Code of Maryland.
09.03.06.17.htm 09.03.06.17. 17 Continuing Education.. A. Purpose and Applicability.. 1) The State legislature has determined that it is in the public interest to require licensees to comply with a continuing education requirement as a prerequisite to the renewal of a mortgage lender license.2) Subject to Financial Institutions Article, §11-511.1, Annotated Code of Maryland, the continuing education requirement does not apply to the original application for a license.
09.03.06.18.htm 09.03.06.18. 18 Special Rules for Covered Loans.. A. Purpose and Scope.. 1) The General Assembly has determined that it is in the public interest to require lenders to comply with special rules with respect to certain mortgage loans.2) This regulation applies to all covered loans made under the provisions of Commercial Law Article, Title 12, Subtitle 1, 3, 4, or 10, Annotated Code of Maryland.B. Definitions. In this regulation, the following terms have the meanings indicated:.
09.03.06.9999.htm 09.03.06.9999. Administrative History Effective date:. Regulations .01―15, Code of Conduct―Mortgage Lenders, adopted as an emergency provision effective July 1, 1989 (16:14 Md. R. 1564) emergency status extended at 16:26 Md. R. 2782 (Emergency provisions are temporary and not printed in COMAR) ―Regulations .01―16, Mortgage Lenders, adopted effective February 19, 1990 (17:3 Md. R. 297). Regulation .06A amended effective July 31, 1995 (22:15 Md. R. 1119).
09.03.07.01.htm 09.03.07.01. 01 Scope.. This chapter governs certain registration requirements and business operations of consumer reporting agencies who collect credit information and furnish consumer reports on residents of this State. The provisions of this chapter are to promote accuracy in consumer reports.
09.03.07.9999.htm 09.03.07.9999. Administrative History Effective date: June 6, 1994 (21:11 Md. R. 950). Chapter recodified from COMAR 09.04.07 to COMAR 09.03.07, April, 1998.
09.03.08.00.htm 09.03.08.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 03 COMMISSIONER OF FINANCIAL REGULATION Chapter 08 Debt Management Services Repealed Administrative History Effective date: September 29, 2003 (30:19 Md. R. 1330)Regulation .01 repealed effective October 1, 2005 (32:18 Md. R. 1518).
09.03.09.01.htm 09.03.09.01. 01 Scope.. This chapter governs the conduct of any individual employed as a mortgage loan originator with respect to residential real estate located in this State.
09.03.09.03.htm 09.03.09.03. 03 Education and Testing Requirements.. A. Prelicensing Education. To qualify for a license, a mortgage loan originator shall have:. 1) Successfully completed at least 20 hours of prelicensing education as required by Financial Institutions Article, §11-606, Annotated Code of Maryland, which shall include at least the following subjects in the number of hours indicated:a) Federal law and regulations relating to mortgage origination ― 3 hours;.
09.03.11.01.htm 09.03.11.01. 01 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Mortgage lender licensee" means a person licensed under Financial Institutions Article, §11-501―11-524, Annotated Code of Maryland.2) "Mortgage loan" means any loan or extension of credit secured by residential property.. 3) "Mortgage loan originator licensee" means an individual licensed under Financial Institutions Article, §11-601―11-618, Annotated Code of Maryland.
09.03.11.9999.htm 09.03.11.9999. Administrative History Effective date:. Regulation .01 adopted as an emergency provision effective April 10, 2008 (35:10 Md. R. 970) emergency status extended at 35:23 Md. R. 2012Regulation .02 adopted as an emergency provision effective May 23, 2008 (35:13 Md. R. 1177) emergency status extended at 35:23 Md. R. 2012 ―Regulations .01 and .02 adopted effective December 29, 2008 (35:26 Md. R. 2247).
09.03.12.03.htm 09.03.12.03. 03 Preliminary Loss Mitigation Affidavit.. A. Subject to §B of this regulation, a preliminary loss mitigation affidavit required by Real Property Article, §7-105.1(h)3) Annotated Code of Maryland, and this chapter shall be in a form substantially similar to that in Appendix D of this chapter.B. The secured party, or representative of the secured party, shall include all information required in the form provided for under §A of this regulation in the spaces indicated by blank lines.
09.03.12.04.htm 09.03.12.04. 04 Final Loss Mitigation Affidavit.. A. Subject to §B of this regulation, a final loss mitigation affidavit required by Real Property Article, §7-105.1(h)4) Annotated Code of Maryland, and this chapter shall be in a form substantially similar to that in Appendix E of this chapter.B. The secured party, or representative of the secured party, shall include all information required in the form provided for under §A of this regulation in the spaces indicated by blank lines.
09.03.12.05.htm 09.03.12.05. 05 Postfile Foreclosure Mediation.. A. Subject to §B of this regulation, a request for postfile mediation required by Real Property Article, §7-105.1(h)4) Annotated Code of Maryland, and this chapter shall be in a form substantially similar to that in Appendix F of this chapter.B. The secured party, or representative of the secured party, shall include all information required in the form provided for under §A of this regulation in the spaces indicated by blank lines.
09.03.12.06.htm 09.03.12.06. 06 Loss Mitigation Application and Instructions.. A secured party, or representative of the secured party, that does not have its own loss mitigation application shall use a loss mitigation application in a form substantially similar to that in Appendix G of this chapter.Click here to view ALL Appendices referenced in this chapter..
09.03.12.10.htm 09.03.12.10. 10 Office of Administrative Hearings.. A. Borrower Information Worksheet and Instructions.. 1) With respect to a scheduled prefile mediation session, the Office of Administrative Hearings shall provide the Borrower(s) Information Worksheet and the instructions regarding the documents and information that must be provided by each party to the other and to the Office of Administrative Hearings in a form substantially similar to that in Appendix OAH-1 of this chapter.
09.03.12.11.htm 09.03.12.11. 11 Time.. In computing any period of time prescribed by this chapter, Maryland Rule 1-203 shall apply.. Click here to view ALL Appendices referenced in this chapter..
09.03.12.12.htm 09.03.12.12. 12 Filing of Duplicate Forms.. Any affidavit, application, or other form submitted to a circuit court as required by this chapter may be a duplicate of the original affidavit, application, or other form.Click here to view ALL Appendices referenced in this chapter..
09.03.13.01.htm 09.03.13.01. 01 Purpose.. This chapter is intended to carry out the provisions of Business Regulation Article, §7-302 and 7-302.1, Annotated Code of Maryland. In particular, it is intended to set license-related fees to cover the actual documented direct and indirect costs of regulating collection agencies in accordance with the provisions of Business Regulation Article, Title 7, Annotated Code of Maryland.
09.03.13.02.htm 09.03.13.02. 38:14 .02 Fees.. A. Initial License Fee. The initial license fee required by Business Regulation Article, §7-302(a) and 7-302.1, Annotated Code of Maryland, is $350 for a 1-year license term.B. Renewal Fee. The renewal fee required by Business Regulation Article, §7-306(b)2) Annotated Code of Maryland, is $350 for a 1-year renewal term.
09.03.13.9999.htm 09.03.13.9999. Administrative History Effective date: October 3, 2011 (38:19 Md. R. 1147). Regulation .02 amended effective July 2, 2018 (45:13 Md. R. 664).
09.03.14.9999.htm 09.03.14.9999. Administrative History Effective date: May 27, 2013 (40:10 Md. R. 916).

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