reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-613 - Investigations

(a)    (1)    Any person aggrieved by the conduct of a licensee under this subtitle in connection with a mortgage loan may file a written complaint with the Commissioner who shall investigate the complaint.
(2)    The Commissioner may make any other investigation of a licensee if the Commissioner has reasonable cause to believe that the licensee has violated any provision of this subtitle, of any regulation adopted under this subtitle, or of any other law regulating mortgage lending or mortgage origination in the State.
(b)    In addition to the requirements of this section, an affiliated insurance producer–mortgage loan originator licensed under § 11–603.1 of this subtitle shall be subject to the provisions of §§ 11–513 and 11–515 of this title:
(1)    To the extent the Commissioner determines is necessary to enable the Commissioner to investigate and examine the mortgage loan origination activities of the affiliated insurance producer–mortgage loan originator; and
(2)    As specified in regulations adopted by the Commissioner.
(c)    A licensee shall pay to the Commissioner a per–day fee set by the Commissioner for each of the Commissioner’s employees engaged in any investigation conducted under this section that the Commissioner reasonably considers necessary.
(d)    In connection with an investigation made under this section, the Commissioner may:
(1)    Examine the books and records of a licensee or of any other person that the Commissioner believes has violated a provision of this subtitle, any rule or regulation adopted under this subtitle, or any other law regulating mortgage lending or mortgage origination in the State;
(2)    Subpoena documents or other evidence; and
(3)    Summon and examine under oath any person whose testimony the Commissioner requires.
(e)    (1)    If a person fails to comply with a subpoena or summons of the Commissioner under this subtitle or to testify concerning any matter about which the person may be interrogated under this subtitle, the Commissioner may file a petition for enforcement with the circuit court for a county.
(2)    On petition by the Commissioner, the court may order the person to attend and testify or produce evidence.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-614 - Order to Stop Operations

(a)    If the Commissioner finds that the conduct of any other business conceals a violation or evasion of this subtitle or any rule or regulation adopted under this subtitle, or any law regulating mortgage lending or mortgage origination in the State, the Commissioner may issue a written order to a licensee to stop doing business:
(1)    At any place in which the other business is conducted or solicited; or
(2)    In association or conjunction with the other business.
(b)    A licensee who violates an order of the Commissioner issued under this section shall be subject to the penalties provided by § 11-615 of this subtitle.
(c)    The Commissioner may file a petition in the circuit court for a county seeking enforcement of an order under this section.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-616 - Hearings

(a)    Before the Commissioner takes any action under § 11-614 or § 11-615 of this subtitle, the Commissioner shall give the licensee an opportunity for a hearing.
(b)    Notice of the hearing shall be given and the hearing shall be held in accordance with the Administrative Procedure Act.
(c)    The hearing notice to the licensee shall be sent by certified mail, return receipt requested, to the principal place of business of the licensee at least 30 days before the hearing.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-618 - Mortgage Lender Not Relieved of Responsibility by Employment of Mortgage Loan Originator

The employment of a mortgage loan originator licensed under this subtitle by a mortgage lender does not relieve the mortgage lender of a responsibility under this subtitle or under Subtitle 5 of this title, a rule or regulation adopted under this subtitle or under Subtitle 5 of this title, or a law governing mortgage lending in the State.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-619 - Surety Bond

(a)    Each mortgage loan originator shall be covered by a surety bond in accordance with this section.
(b)    (1)    A mortgage loan originator who is an employee of a person subject to licensure under Subtitle 5 of this title may use the surety bond of that person to meet the mortgage loan originator’s surety bond requirement.
(2)    A mortgage loan originator who is an employee of a person exempt from licensure under Subtitle 5 of this title may use a surety bond of the person to meet the mortgage loan originator’s surety bond requirement, provided the surety bond meets the requirements, based on mortgage loan volume, under § 11–508 of this title.
(c)    A licensee who is an affiliated insurance producer–mortgage loan originator shall be deemed in compliance with this section if the licensee:
(1)    Holds a surety bond that would satisfy the surety bond requirements under § 11–508 of this title if the affiliated insurance producer–mortgage loan originator were a licensee under Subtitle 5 of this title; or
(2)    Is covered under a blanket surety bond held by the financial institution or mortgage lender licensee identified in § 11–603.1(a)(3) of this subtitle if the blanket surety bond:
(i)    Covers all affiliated insurance producer–mortgage loan originators; and
(ii)    Is in the amount of $1,000,000 or another amount as required by the Commissioner by regulation.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-620 - Confidentiality of Information

(a)    (1)    Except as otherwise provided in 12 U.S.C. § 5111, the requirements under any federal law and Title 4, Subtitles 1 through 5 of the General Provisions Article regarding the privacy or confidentiality of information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court with respect to that information or material, shall continue to apply to that information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry.
(2)    The information and material may be shared with all state and federal regulatory officials having mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or Title 4, Subtitles 1 through 5 of the General Provisions Article.
(b)    The Commissioner may enter into information sharing agreements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, or other associations representing governmental agencies.
(c)    Information or material that is subject to a privilege or confidentiality under subsection (a) of this section may not be subject to:
(1)    Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or agency of the federal government or a state that has received the information or material; or
(2)    Subpoena, discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry the person to whom the information or material pertains waives, in whole or in part, that privilege.
(d)    Any provisions of Title 4, Subtitles 1 through 5 of the General Provisions Article relating to the disclosure of any information or material described in subsection (a) of this section that are inconsistent with subsection (a) of this section shall be superseded by the requirements of this section.
(e)    This section does not apply to information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the Nationwide Mortgage Licensing System and Registry and designated for access by the public.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-621 - Registration of Employees of Nonfederally Insured Credit Unions

Nonfederally insured credit unions that employ mortgage loan originators shall register these employees with the Nationwide Mortgage Licensing System and Registry by providing the information concerning the employees’ identity set forth in 12 U.S.C. § 5106(a)(2).
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-622 - Reports to Nationwide Mortgage Licensing System and Registry; Regulations

(a)    Notwithstanding Title 4, Subtitles 1 through 5 of the General Provisions Article, and subject to § 11–620 of this subtitle, the Commissioner shall report adjudicated enforcement actions and other relevant information to the Nationwide Mortgage Licensing System and Registry.
(b)    The Commissioner shall adopt regulations establishing a process by which a licensee or an applicant for a license may challenge information entered by the Commissioner into the Nationwide Mortgage Licensing System and Registry.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-624 - Prohibited and Permitted Acts

(a)    A person subject to this subtitle may not, in connection with a mortgage loan or loan application:
(1)    Make a payment, threat, or promise, directly or indirectly, to another person for the purpose of influencing the person to violate any federal or State law, or any standard of professional practice recognized by the federal or State government; or
(2)    Make a payment, threat, or promise, directly or indirectly, to an appraiser of residential real estate for the purpose of influencing the independent judgment of the appraiser with respect to the value of the residential real estate, or engage in any other act or practice that impairs or attempts to impair an appraiser’s independence, objectivity, or impartiality, including:
(i)    Withholding or threatening to withhold payment for an appraisal with the intent to coerce the appraiser to agree to a value, range of values, or minimum value for the residential real estate;
(ii)    Conditioning the payment of an appraisal fee on the opinion, conclusion, or valuation to be reached by the appraiser; or
(iii)    Requesting the appraiser to report a predetermined opinion, conclusion, or valuation.
(b)    This section does not prohibit a person subject to this subtitle from:
(1)    Requesting another person to:
(i)    Consider additional appropriate information;
(ii)    Provide additional details, substantiation, or explanation of a conclusion made by the other person; or
(iii)    Correct errors in an appraisal report or other mortgage document; or
(2)    Withholding payment for an appraisal pending resolution of an action before a federal or State court or licensing board relating to the appraisal.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-101 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Branch location” means any location other than the principal executive office of a licensee or license applicant at which the licensee conducts, or the license applicant, on licensure, will conduct, activities required to be licensed under this subtitle.
(c)    (1)    “Control person” means a person who has the power, directly or indirectly, to direct the management or policies of a licensee or license applicant, whether through ownership of securities, by contract, or otherwise.
(2)    “Control person” includes a person who:
(i)    Is a general partner, an officer, a director, or a member, or occupies a similar position or performs a similar function;
(ii)    Directly or indirectly has the right to vote 5% or more of a class of voting securities, or has the power to sell or direct the sale of 5% or more of a class of voting securities, of a licensee or license applicant; or
(iii)    In the case of a partnership, a limited partnership, a limited liability partnership, a limited liability company, or any other business entity:
1.    Has the right to receive on liquidation or dissolution of a licensee or license applicant 5% or more of the capital of the licensee or license applicant; or
2.    Has contributed 5% or more of the capital of a licensee or license applicant.
(d)    “Exempt entity” means an entity that is exempt from all requirements of licensing as provided under § 12–103(b) and (c) of this subtitle.
(e)    “License” means a license issued in any form by the Commissioner under this subtitle to provide check cashing services, including as provided for through NMLS.
(f)    “Licensee” means a person licensed under this subtitle to provide check cashing services.
(g)    “Mobile unit” means a motor vehicle or other movable means from which check cashing services are provided.
(h)    (1)    “Payment instrument” means a check or a draft ordering a person to pay money.
(2)    “Payment instrument” includes a money order.
(i)    “Provide check cashing services” means to accept or cash, for compensation, a payment instrument regardless of the date of the payment instrument.
(j)    “Unique identifier” means a number or another identifier assigned by NMLS.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-102 - Applicability of Subtitle -- in General

(a)    This subtitle does not apply to check cashing services:
(1)    In which a customer presents a payment instrument for the exact amount of a purchase; or
(2)    Involving foreign currency exchange services or the cashing of a payment instrument drawn on a financial institution other than a federal, State, or other state financial institution.
(b)    (1)    This subtitle does not apply to a transaction that is subject to the Maryland Consumer Loan Law (Title 12, Subtitle 3 of the Commercial Law Article and Title 11, Subtitle 2 of this article), including a transaction in which an additional fee is charged to defer the presentment or deposit of a payment instrument until a subsequent date.
(2)    A check cashing service is not subject to the Maryland Consumer Loan Law if:
(i)    The fee charged for the check cashing service does not exceed the fee permitted under this subtitle;
(ii)    No additional fee is charged to defer the presentment or deposit of the payment instrument; and
(iii)    The check cashing service is not subject to renewal or extension by any means.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-103 - Applicability of Subtitle -- Exempt Entities

(a)    This subtitle does not apply to:
(1)    Any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under the laws of this State or the United States that maintains its principal office in this State;
(2)    Any out-of-state bank, as defined in § 5-1001 of this article, having a branch that accepts deposits in this State; and
(3)    Any institution incorporated under federal law as a savings association or savings bank that does not maintain its principal office in this State but has a branch that accepts deposits in this State.
(b)    A subsidiary or affiliate of an institution described in subsection (a) of this section is exempt from all requirements of licensing under this subtitle provided the subsidiary or affiliate:
(1)    Is subject to audit or examination by a regulatory body or agency of this State, the United States, or the state where the subsidiary or affiliate maintains its principal office; and
(2)    Submits to the Commissioner in writing and prior to providing check cashing services the following information:
(i)    The subsidiary’s or affiliate’s name and address, and the names and addresses of each:
1.    Owner who owns 5% or more of the subsidiary or affiliate; and
2.    Officer, director, or principal of the subsidiary or affiliate;
(ii)    1.    Each address at which check cashing services will be provided; and
2.    If a mobile unit will be used to provide check cashing services, the vehicle identification number of the mobile unit and the geographic area in which the mobile unit will be operating; and
(iii)    Any other information that the Commissioner requests.
(c)    (1)    An exempt entity is not subject to the provisions of §§ 12-106 through 12-112, inclusive, and § 12-122 of this subtitle.
(2)    An exempt entity is subject to:
(i)    The provisions of §§ 12-113 through 12-121, inclusive, and §§ 12-123 through 12-127, inclusive, of this subtitle; and
(ii)    Any regulation, except to the extent the regulation concerns licensing, adopted under this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-104.1 - Credit of Revenue From Licensing and Payment of Fines and Penalties Into Various Funds

(a)    All revenue received for the licensing of persons under this subtitle and any other fee or revenue received by the Commissioner under this subtitle shall be:
(1)    Credited to the Nondepository Special Fund established under § 11–610 of this article; and
(2)    Used in accordance with § 11–610(c) of this article.
(b)    Notwithstanding subsection (a) of this section, the Commissioner shall pay all fines and penalties collected by the Commissioner under this subtitle into the General Fund of the State.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-105 - Licensing -- in General

(a)    Except as provided in § 12–102(a) or § 12–105.1 of this subtitle, a person may not provide check cashing services unless the person is licensed under this subtitle or is an exempt entity.
(b)    A separate license is required for the principal executive office of the license applicant or licensee at which, each branch location at which, and each mobile unit from which, a person provides check cashing services.
(c)    During the time period established by the Commissioner under subsection (d) of this section, each licensee shall:
(1)    Obtain and maintain a valid unique identifier issued by NMLS when an account is created with NMLS;
(2)    Transfer licensing information to NMLS; and
(3)    Pay to the Commissioner a license extension fee calculated in accordance with subsection (d)(5) of this section.
(d)    (1)    The Commissioner shall establish a time period that is no less than 2 months within which a licensee must transfer licensing information to NMLS.
(2)    The time period that the Commissioner establishes under this subsection shall begin on or after July 1, 2017.
(3)    At least 30 days before the transfer period begins, the Commissioner shall:
(i)    Notify all licensees of the transfer period; and
(ii)    Provide instructions for the transfer of licensing information to NMLS.
(4)    For each licensee that complies with subsection (c) of this section, the term of the licensee’s license shall extend to December 31 of the year in which the license otherwise would have expired.
(5)    The license extension fee required under subsection (c)(3) of this section is nonrefundable and, based on the annual license fee, shall be prorated to the number of days between the date the license otherwise would have expired and December 31 of the same year.
(e)    Subject to subsection (c) of this section, an applicant for an initial license or a license renewal shall apply for the initial license or license renewal through NMLS:
(1)    On or after July 1, 2017; or
(2)    If the Commissioner has not joined NMLS with respect to persons required to be licensed under this subtitle as of July 1, 2017, on or after the date that the Commissioner joins, as specified by the Commissioner by public notice.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-105.1 - Check Cashing Services by Annually Registered Business -- Requirements

(a)    A person may provide check cashing services without obtaining a license under this subtitle by registering each year with the Commissioner under this section if the person:
(1)    Charges a fee of up to 1.5% or $1, whichever is greater, of the face amount of the payment instrument per payment instrument;
(2)    Provides check cashing services that are incidental to the retail sale of goods or services by the person that is providing the check cashing services;
(3)    Is registered as a check casher money service business with the U.S. Department of Treasury;
(4)    Conducts check cashing service transactions within the interior of the business location and not through the use of a mobile unit or an exterior drive–up or walk–up window;
(5)    Has conspicuously posted a notice with the following information, in 48 point type or larger, at each business location at which the person provides check cashing services:
(i)    The fees charged for check cashing services; and
(ii)    How to contact the Office of the Commissioner of Financial Regulation with comments or complaints; and
(6)    Provides a receipt to each check cashing services customer that includes:
(i)    The date of the transaction;
(ii)    The face value of the check cashed;
(iii)    The fee charged; and
(iv)    The net dollar amount paid to the customer.
(b)    To register as a check cashing service, a person shall:
(1)    Obtain and maintain a valid unique identifier issued by NMLS when an account is created with NMLS; and
(2) Provide information required by the Commissioner through NMLS, including:
(i)    The person’s name and address and, if the person is not an individual:
1.    The names and addresses of each owner who owns more than 5% of the person; and
2.    The officers and director or principal of the person;
(ii)    The addresses at which check cashing services will be provided; and
(iii)    Any other information determined to be necessary by the Commissioner.
(c)    A person submitting an initial registration or a registration renewal under this section shall apply through NMLS:
(1)    For the initial registration, on or after November 1, 2020; and
(2)    For registration renewal, each year thereafter.
(d)    A person submitting an initial registration or a registration renewal under this section shall pay to NMLS any fees that NMLS imposes in connection with the issuance of the registration or the renewal of the registration.
(e)    Sections 12–106 through 12–120 of this subtitle do not apply to a person who registers under this section.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-106 - Licensing -- Qualifications

To qualify for a license, an applicant shall satisfy the Commissioner that:
(1)    The applicant’s business will promote the convenience and advantage of the community in which the applicant’s place of business, or mobile unit, will be located; and
(2)    The applicant or, if the applicant is not an individual, each of the owners, officers, directors, or principals of the entity:
(i)    Has sufficient experience, character, financial responsibility, and general fitness to:
1.    Command the confidence of the public; and
2.    Warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently; and
(ii)    Has not committed any act that would be a ground for suspension or revocation of a license under this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-107 - Licensing -- Fingerprints; Criminal History Records Check

(a)    In connection with an initial application for a license under this subtitle, and at any other time the Commissioner requires, an applicant or licensee shall provide fingerprints, as directed by the Commissioner, to NMLS for use by the Federal Bureau of Investigation to conduct a criminal history records check.
(b)    An applicant or licensee required under this section to provide fingerprints shall pay any processing or other required fee.
(c)    If the applicant or licensee is a corporation, the fingerprinting and criminal history records check requirements shall apply to the president, and any other officer, director, principal, or owner of the corporation as required by the Commissioner.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-107.1 - Confidentiality of Information

(a)    (1)    The requirements under any federal law and Title 4, Subtitles 1 through 5 of the General Provisions Article regarding the privacy or confidentiality of information or material provided to NMLS, and any privilege arising under federal or state law, including the rules of any federal or state court with respect to that information or material, shall continue to apply to that information or material after the information or material has been disclosed to NMLS.
(2)    The information and material may be shared with all state and federal regulatory officials having oversight authority over persons required to be licensed under this subtitle, including the Financial Crimes Enforcement Network and the Office of Foreign Assets Control, and any successor to these agencies, without the loss of privilege or the loss of confidentiality protections provided by federal law or Title 4, Subtitles 1 through 5 of the General Provisions Article.
(b)    Information or material that is subject to a privilege or confidentiality under subsection (a) of this section may not be subject to:
(1)    Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or agency of the federal government or a state that has received the information or material; or
(2)    Subpoena, discovery, or admission into evidence, in any private civil litigation or administrative process, unless, with respect to any privilege held by NMLS, the person to whom the information or material pertains waives, in whole or in part, that privilege.
(c)    Any provisions of Title 4, Subtitles 1 through 5 of the General Provisions Article relating to the disclosure of any information or material described in subsection (a) of this section that are inconsistent with subsection (a) of this section shall be superseded by the requirements of this section.
(d)    This section does not apply to information or material relating to publicly adjudicated disciplinary and enforcement actions against a person required to be licensed under this subtitle that is included in NMLS and designated for access by the public.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-108 - Licensing -- Applications

(a)    (1)    To apply for a license, an applicant shall:
(i)    Complete, sign, and submit to the Commissioner an application made under oath in the form, and in accordance with the process, that the Commissioner requires; and
(ii)    Provide all the information that the Commissioner requests.
(2)    The application shall include:
(i)    The applicant’s name, the applicant’s principal executive office address, and, if the applicant is not an individual, the name and residence address of each control person;
(ii)    The address of each branch location, if any;
(iii)    If the license is for a mobile unit, the vehicle identification number of the mobile unit and the geographic area in which the mobile unit will be operating; and
(iv)    Any other information that the Commissioner requires for an investigation and findings under § 12–109 of this subtitle.
(b)    With the application, the applicant shall pay to the Commissioner:
(1)    An investigation fee of $100; and
(2)    A license fee of $500.
(c)    For the principal executive office, each branch location, and each mobile unit license for which an applicant applies, the applicant shall:
(1)    Submit a separate application; and
(2)    Pay a separate investigation fee and license fee.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-109 - Licensing -- Application Investigation; Approval or Denial

(a)    When an applicant for a license files the application and pays the fees required by § 12–108 of this subtitle, the Commissioner shall investigate the facts relevant to the application to determine if the applicant meets the requirements of this subtitle.
(b)    Unless the Commissioner and an applicant agree in writing to extend the time, the Commissioner shall approve or deny each application for a license within 60 days after the date on which the complete application is filed and the fees are paid.
(c)    The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle.
(d)    (1)    If an applicant does not meet the requirements of this subtitle, the Commissioner shall:
(i)    Deny the application;
(ii)    Notify the applicant immediately of the denial;
(iii)    Refund the license fee; and
(iv)    Retain the investigation fee.
(2)    (i)    Within 10 days after the Commissioner denies an application, the Commissioner shall send a written notice to the applicant stating the reasons for the denial.
(ii)    The notice shall be sent by United States mail, e–mail, or any means provided through NMLS to the address listed in the application.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-110 - Licensing -- Contents and Scope; More Than One License

(a)    (1)    Each license provided for through NMLS shall include the following information:
(i)    The name of the licensee;
(ii)    1.    The address of the location at which check cashing services will be provided; or
2.    If the license is for a mobile unit, the vehicle identification number of the mobile unit and the geographic area in which check cashing services will be provided; and
(iii)    The unique identifier of the licensee.
(2)    The unique identifier of the licensee shall constitute the license number for the license.
(b)    (1)    A license authorizes the licensee to provide check cashing services under the name stated on the license and at the location at which, or if the license is for a mobile unit the geographic area in which, check cashing services will be provided.
(2)    Only one location, or one mobile unit, may be maintained under any one license.
(c)    Subject to § 12–105(b) of this subtitle, the Commissioner may issue more than one license to an applicant who:
(1)    Conducts activities for which a license is required at more than one location;
(2)    Complies with § 12–108 of this subtitle; and
(3)    Otherwise meets the requirements of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-110.1 - Surrender of License

(a)    A licensee may surrender a license through NMLS in accordance with the process that the Commissioner requires.
(b)    If a license is surrendered voluntarily, or is suspended or revoked, the Commissioner may not refund any part of the license fee regardless of the time remaining in the license term.
(c)    The surrender of a license does not affect any civil or criminal liability of the licensee for acts committed before the license was surrendered.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-111 - Licensing -- Term, Expiration, and Renewal

(a)    An initial license term shall:
(1)    Begin on the date the license is issued; and
(2)    Expire on December 31 of the year:
(i)    In which the license is issued, if the license is issued before November 1; or
(ii)    Immediately following the year in which the license is issued, if the license is issued on or after November 1.
(b)    On or after November 1 of the year a license expires, the license may be renewed for an additional 1–year term, if the licensee:
(1)    Otherwise is entitled to be licensed;
(2)    Pays to the Commissioner a renewal fee of $500; and
(3)    Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.
(c)    The Commissioner shall determine if the requirements of § 12–106 of this subtitle to qualify for a license continue to apply.
(d)    To the extent required or permitted by NMLS, the Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.
(e)    A licensee may not renew a license unless, before the submission of the license renewal application, the licensee has transferred the licensee’s licensing information to NMLS in accordance with § 12–105(c) of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-112 - Licensing -- Transfer and Display

(a)    A license is not transferable.
(b)    (1)    Each licensee shall conspicuously post, in 48 point or larger type, at the licensee’s licensed location or mobile unit the following information:
(i)    The licensee’s unique identifier; and
(ii)    A statement advising consumers of the availability of the NMLS Consumer Access website to verify the licensing status of the licensee.
(2)    Each licensee shall conspicuously display the following information on the licensee’s website, any software application accessible to the public and used to provide check cashing services, and profile page within each social media platform the licensee uses:
(i)    The licensee’s unique identifier; and
(ii)    A link to the NMLS Consumer Access website.
(c)    A licensee is not required to post the information required in subsection (b)(1) of this section if the licensee does not regularly grant access to the licensed location to members of the general public.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-113 - Change of Location

A licensee may not change the location for which a license is issued unless the licensee:
(1)    Provides to the Commissioner, in the form and in accordance with the process that the Commissioner requires, notice of the proposed change; and
(2)    Receives the consent of the Commissioner through NMLS prior to the change.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-114 - Books and Records -- Retention

(a)    A licensee shall keep the books and records that the Commissioner requires to determine compliance with this subtitle.
(b)    Unless a longer period is expressly required by State or federal law, a licensee shall retain the records required under this subtitle for a period of at least 2 years.
(c)    A licensee may retain the records required under this subtitle at any location, provided that the licensee:
(1)    Notifies the Commissioner in writing of the location of the records; and
(2)    Makes the records available at a place of business for which a license has been issued or at the licensee’s principal place of business, as agreed by the Commissioner and the licensee, within 7 days of a written request for examination by the Commissioner.
(d)    In addition to any other books and records that the Commissioner may require, a licensee shall retain:
(1)    A chronological register of all payment instruments cashed by the licensee showing:
(i)    The name of the customer;
(ii)    The transaction date;
(iii)    The type and amount of payment instrument;
(iv)    The amount of fee charged; and
(v)    A complete description of the identification presented by the customer; and
(2)    The licensee’s bank statements and canceled checks.
(e)    A licensee shall retain the records required under this section in one of the following ways:
(1)    Original form;
(2)    An electronic equivalent approved by the Commissioner; or
(3)    A microphotographic copy approved by the Commissioner.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-115 - Books and Records -- Investigation of Records

(a)    At any time and as often as the Commissioner considers appropriate, the Commissioner may investigate the records and business operations of a licensee or a person who acts on behalf of a licensee.
(b)    For the purposes of this section, the Commissioner:
(1)    Shall be given access to any books, papers, records, safes, or vaults of the person under investigation; and
(2)    May examine under oath a person whose testimony the Commissioner requires.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-118 - Posting of Fees

A licensee shall conspicuously post, in 48 point or larger type, at each place of business at which, or mobile unit from which, the licensee provides check cashing services:
(1)    A notice of the fees for check cashing services; and
(2)    The phone number of the Commissioner for customers to file complaints.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-119 - Payment of Instrument; Forms of Customer Identification

(a)    A licensee shall pay a customer, in United States currency, the face amount of the payment instrument received less the fee charged.
(b)    (1)    A licensee may not provide check cashing services to a customer unless the customer presents a form of customarily acceptable identification.
(2)    Acceptable forms of identification include:
(i)    A valid driver’s license with photograph issued by a state government;
(ii)    A valid identity card with photograph issued by a state government;
(iii)    A valid United States passport or alien registration card; and
(iv)    A valid military identification card.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-120 - Maximum Fees; Membership Fee

(a)    Except as provided in § 15-802(b) of the Commercial Law Article and subsection (b) of this section, a licensee may not charge any other fee, including late fees or other service fees, for accepting or cashing a payment instrument in excess of the greater of:
(1)    2% of the face amount of the payment instrument or $3, if the payment instrument is issued by the federal government or a state or local government;
(2)    10% of the face amount of a payment instrument or $5, if the payment instrument is a personal check; or
(3)    4% of the face amount of the payment instrument or $5, for any other payment instrument.
(b)    A licensee may charge a customer a one-time membership fee not to exceed $5.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-121 - Cease and Desist Orders

Subject to the hearing provisions of § 12–123 of this subtitle, the Commissioner may order a licensee or registrant to cease and desist from a course of conduct if the course of conduct results in an evasion or violation of this subtitle or a regulation adopted under this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-122 - Suspension and Revocation of License

(a)    Subject to the hearing provisions of § 12–123 of this subtitle, the Commissioner may suspend or revoke the license of any licensee or registration of any registrant if the licensee or registrant, or any owner, director, officer, member, partner, stockholder, employee, or agent of the licensee or registrant:
(1)    Makes any material misstatement in an application for a license or registration;
(2)    Is convicted under the laws of the United States or of any other state of:
(i)    A felony; or
(ii)    A misdemeanor that is directly related to the fitness and qualification of the person to provide check cashing services;
(3)    In connection with any check cashing service:
(i)    Commits any fraud;
(ii)    Engages in any illegal or dishonest activities; or
(iii)    Misrepresents or fails to disclose any material facts to anyone entitled to that information;
(4)    Violates any provision of this subtitle or any rule or regulation adopted under this subtitle, or any other law regulating check cashing services in the State; or
(5)    Otherwise demonstrates unworthiness, bad faith, dishonesty, or any other quality that indicates that the business of the licensee or registrant has not been or will not be conducted honestly, fairly, equitably, and efficiently.
(b)    In determining whether the license of the licensee or registration of the registrant should be suspended or revoked for a reason listed in subsection (a)(2) of this section, the Commissioner shall consider:
(1)    The nature of the crime;
(2)    The relationship of the crime to the activities authorized by the license or registration;
(3)    With respect to a felony, the relevance of the conviction to the fitness and qualification of the licensee or registrant to provide check cashing services;
(4)    The length of time since the conviction; and
(5)    The behavior and activities of the licensee or registrant since the conviction.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-123 - Notice and Hearing Requirements

(a)    Before the Commissioner takes any action under § 12–121, § 12–122, or § 12–126 of this subtitle, the Commissioner shall give the licensee or registrant an opportunity for a hearing before the Commissioner.
(b)    Notice of the hearing shall be given and the hearing shall be held in accordance with Title 10, Subtitle 2 of the State Government Article.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-126 - Civil Penalties

(a)    The Commissioner may impose a civil penalty against a person who violates this subtitle in an amount not exceeding:
(1)    $10,000 for a first offense; and
(2)    $25,000 for each subsequent offense.
(b)    In determining the amount of civil penalty to be imposed under subsection (a) of this section, the Commissioner shall consider the following:
(1)    The seriousness of the violation;
(2)    The good faith of the violator;
(3)    The violator’s history of previous violations;
(4)    The deleterious effect of the violation on the public;
(5)    The assets of the violator; and
(6)    Any other factor relevant to the determination of the civil penalty.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 1 - Check Cashing Services › Section 12-127 - Action for Damages or Injunctive Relief; Award Amounts

(a)    A person who is injured by a violation of this subtitle may file an action to recover damages or for injunctive relief.
(b)    A court may award a prevailing plaintiff under this section:
(1)    Up to 3 times the amount of actual damages; and
(2)    An amount at least equal to the amount paid by the plaintiff to the defendant, reasonable attorney’s fees, and costs.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 2 - Foreign Banks › Part I - Definitions › Section 12-201 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Affiliated corporation” means any corporation, whether incorporated under the laws of this State or of any other jurisdiction, of which 25 percent or more of the outstanding voting shares are owned of record or beneficially by:
(1)    A foreign bank; or
(2)    Persons who own of record or beneficially 25 percent or more of the outstanding voting shares of a foreign bank.
(c)    “Bank holding company” means a corporation that owns of record or beneficially 25 percent or more of the outstanding voting shares of:
(1)    A state banking institution that has its principal banking office in this State; or
(2)    A national banking association that has its principal banking office in this State.
(d)    “Foreign bank” means any bank or trust company other than:
(1)    A state banking institution that has its principal banking office in this State; and
(2)    A national banking association that has its principal banking office in this State.
(e)    “Foreign banking corporation” means:
(1)    A foreign bank; or
(2)    Any corporation that:
(i)    Is controlled by a foreign bank;
(ii)    Controls a foreign bank; or
(iii)    Is controlled by persons who control a foreign bank or foreign bank holding company.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 2 - Foreign Banks › Part III - Offices › Section 12-207 - Offices Restricted; Exemption

(a)    Except as provided in subsection (b) of this section, a foreign banking corporation may not have an office in this State for any purpose unless:
(1)    The foreign banking corporation obtains from the Commissioner a permit for the office; or
(2)    The office is authorized under:
(i)    The Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994 or other federal law; or
(ii)    Title 5, Subtitle 9 or Subtitle 10 of this article.
(b)    A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 2 - Foreign Banks › Part III - Offices › Section 12-208 - Applications for Permits

(a)    To apply for a permit for an office, a foreign banking corporation shall submit to the Commissioner an application on the form that the Commissioner requires.
(b)    The application shall state:
(1)    The location of each proposed office;
(2)    A specific description of the proposed operations; and
(3)    The services to be performed for the public.
2023 Maryland Statutes › Financial Institutions › Title 12 - Miscellaneous Institutions and Activities › Subtitle 2 - Foreign Banks › Part III - Offices › Section 12-210 - Term and Renewal of Permit

(a)    A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3–year term as provided in this section.
(b)    Before its permit expires, the foreign banking corporation may renew the permit for additional 3–year terms if the foreign banking corporation:
(1)    At least 30 days before its permit expires submits to the Commissioner a renewal application on the form that the Commissioner requires; and
(2)    Meets the requirements for issuance of a permit under § 12–209 of this subtitle.
(c)    The Commissioner shall renew the permit of each foreign banking corporation that meets the requirements of this section.