reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 1 - General Provisions › Section 11-101 - Examination Expenses

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Examination” means an examination or investigation performed by the Commissioner, or the Commissioner’s designee, which is required or authorized under this article or Title 12 of the Commercial Law Article.
(3)    “Licensee” means a person licensed by the Commissioner under this title.
(4)    “Person” includes an individual, corporation, business trust, statutory trust, estate, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(b)    Travel and living expenses reasonably incurred by the Commissioner or the Commissioner’s designated examiners arising from the examination of a licensee whose place of business being examined is located outside the geographical boundaries of Maryland, shall be paid by the entity being examined.
(c)    (1)    Subsection (b) of this section does not apply if the licensee physically produces all documentation deemed by the Commissioner to be necessary or appropriate to the examination within Maryland at a location designated by the Commissioner.
(2)    The production of documentation under this subsection, instead of an on-site examination, shall be made at the Commissioner’s sole discretion.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-201 - 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, or a director of a licensee or license applicant, or occupies a similar position or performs a similar function;
(ii)    Directly or indirectly has the right to vote 10% or more of a class of voting securities, or has the power to sell or direct the sale of 10% 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 10% or more of the capital of the licensee or license applicant; or
2.    Has contributed 10% or more of the capital of a licensee or license applicant.
(d)    “License” means a license issued in any form by the Commissioner under this subtitle to make loans under the Maryland Consumer Loan Law, including as provided for through NMLS.
(d–1)    “Licensee” means a person licensed under this subtitle to make loans under the Maryland Consumer Loan Law.
(e)    “Loan” means any loan or advance of money or credit subject to Title 12, Subtitle 3 of the Commercial Law Article, the Maryland Consumer Loan Law – Credit Provisions, regardless of whether the loan or advance of money or credit is or purports to be made under Title 12, Subtitle 3 of the Commercial Law Article.
(f)    “Maryland Consumer Loan Law” means this subtitle and Title 12, Subtitle 3 of the Commercial Law Article.
(g)    “Person” includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(h)    “Unique identifier” means a number or another identifier assigned by NMLS.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-202 - Scope of Subtitle

(a)    The Maryland Consumer Loan Law does not change any powers conferred by law on any person who is not required or permitted to be licensed under this subtitle.
(b)    The Commissioner may not license any bank, trust company, savings bank, credit union, or savings and loan association.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-203.1 - Licensing Requirements and Process

(a)    Unless a person is licensed by the Commissioner, the person may not:
(1)    Make a loan; or
(2)    In any way use any advantage provided by the Maryland Consumer Loan Law.
(b)    A separate license is required for the principal executive office of the license applicant or licensee and each branch location.
(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 not 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 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-203.2 - 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 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-203.3 - 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 Subtitle 3 of this title 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 title; and
(2)    Used in accordance with § 11–610(c) of this title.
(b)    Notwithstanding subsection (a) of this section, the Commissioner shall pay all fines and penalties collected by the Commissioner under this subtitle and Subtitle 3 of this title into the General Fund of the State.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-204 - Permitted and Prohibited Loan Activities

(a)    A person may not:
(1)    Receive any application for a loan or allow any note or contract for a loan to be signed at any place of business for which the person does not have a license;
(2)    Conduct any business under the Maryland Consumer Loan Law under a name different from the name that appears on the person’s license; or
(3)    Evade the application of this section by any device, subterfuge, or pretense of any kind.
(b)    This section does not prohibit a licensee from accommodating a borrower, at the borrower’s request, by making a loan by mail because of the borrower’s sickness or hours of employment or for similar reasons.
(c)    Notwithstanding subsections (a) and (b) of this section, for a loan that is to be secured by residential real property:
(1)    A licensee may solicit and accept an application for a loan:
(i)    By mail;
(ii)    By telephone or other electronic means; or
(iii)    At any location requested by the prospective borrower;
(2)    Except as provided in item (3) of this subsection, the loan closing shall be conducted at:
(i)    The lender’s licensed location;
(ii)    The office of an attorney representing the licensee, the borrower, the title company, or title insurer in connection with the loan; or
(iii)    The office of the title insurer or title agency performing closing services in connection with the loan; and
(3)    A licensee may conduct the loan closing at another location at the written request of the borrower or the borrower’s designee to accommodate the borrower because of the borrower’s sickness.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-205 - Qualifications of Applicant for License

To qualify for a license, an applicant shall satisfy the Commissioner that:
(1)    The applicant has at least $20,000 in liquid assets available to be used in the business to be covered by the license;
(2)    The business will promote the convenience and advantage of the community in which the place of business will be located; and
(3)    The applicant or, if the applicant is not an individual, the owners, officers, directors, or members have sufficient experience, character, financial responsibility, and general fitness to:
(i)    Command the confidence of the public; and
(ii)    Warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-207 - Investigation of Application; Issuance of License or Denial of Application

(a)    When an applicant for a license files the application and bond and pays the fees required by § 11–206 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, the fees are paid, and the surety bond is filed.
(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 this fact;
(iii)    Return the bond filed under § 11–206 of this subtitle;
(iv)    Refund the license fee; and
(v)    Keep 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 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-208 - Contents and Scope of Licenses; Additional Licenses

(a)    (1)    Each license provided for through NMLS shall include the following information:
(i)    The name of the licensee;
(ii)    The address of the location at which the business is to be conducted; 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 do business under the license, at the licensed location and under the name stated on the license.
(2)    Only one location may be maintained under any one license.
(c)    Subject to § 11–203.1(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 § 11–206 of this subtitle; and
(3)    Otherwise meets the requirements of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-209 - Term and Renewal of Licenses

(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 in which 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 $850; 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 may waive the requirements of § 11–205(1) and (2) of this subtitle for the renewal of a license.
(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 § 11–203.1(c) of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-209.1 - 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 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-210 - License Not Transferable; 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 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 make loans under the Maryland Consumer Loan Law, 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 grant regular access to the licensed location to members of the general public.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-211 - 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 written consent of the Commissioner by United States mail, e–mail, or any means provided through NMLS.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-213 - Licensee to Keep Books and Records

Each licensee shall keep:
(1)    The books and records that the Commissioner considers necessary to determine compliance with the Maryland Consumer Loan Law; and
(2)    For at least 2 years after the licensee makes the final entry on any loan in the licensee’s business, the records of that entry, including cards used in a card system.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-214 - Investigatory Powers of Commissioner

(a)    To discover any violations of the Maryland Consumer Loan Law, the Commissioner, at any time and as often as the Commissioner considers appropriate, may investigate the loans made by and the business of:
(1)    Any licensee; or
(2)    Any other person who makes a loan or on whose behalf a loan is made, whether or not that person:
(i)    Acts or claims to act as a principal, agent, or broker; or
(ii)    Acts or claims to act under the Maryland Consumer Loan Law.
(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 any person whose testimony the Commissioner requires.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-215 - Cease and Desist Orders

(a)    Subject to the hearing provisions of § 11-217 of this subtitle, the Commissioner may order a licensee or any other person to cease and desist from a course of conduct if the course of conduct results in an evasion or violation of the Maryland Consumer Loan Law or of any rule or regulation adopted under it.
(b)    (1)    Subject to the provisions of paragraph (2) of this subsection, when the Commissioner determines that a licensee or any other person is about to engage in an act or practice constituting an evasion or violation of the Maryland Consumer Loan Law or of any rule or regulation adopted under the Maryland Consumer Loan Law, and that immediate action against the licensee or person is in the public interest, the Commissioner may in the Commissioner’s discretion issue, without a prior hearing, a summary order directing the licensee or person to cease and desist from engaging in the act or practice.
(2)    A summary cease and desist order issued under paragraph (1) of this subsection shall give the licensee or person:
(i)    Subject to the hearing provisions of § 11-217 of this subtitle, notice of the opportunity for a hearing to determine whether the summary cease and desist order should be vacated, modified, or entered as final; and
(ii)    Notice that the summary cease and desist order will be entered as final if the licensee or person does not request a hearing within 15 days of receipt of the summary cease and desist order.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-216 - Suspensions and Revocations

(a)    Subject to the hearing provisions of § 11-217 of this subtitle, the Commissioner may suspend or revoke the license of any licensee who:
(1)    Violates any provision of the Maryland Consumer Loan Law; or
(2)    Knowingly and repeatedly violates any provision of the Maryland Consumer Debt Collection Act.
(b)    (1)    The Commissioner shall revoke the license of any licensee who is convicted twice of violating § 12-316 of the Commercial Law Article if the second violation occurs after the first conviction.
(2)    The Commissioner may not issue another license to any person whose license is revoked under this subsection.
(c)    If the Commissioner suspends or revokes a license, the Commissioner shall file in the Commissioner’s office:
(1)    Findings; and
(2)    A statement of all the facts on which the findings are based.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-217 - Hearings

(a)    Before the Commissioner takes any action under § 11-215 or § 11-216(a) of this subtitle, the Commissioner shall give the licensee 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 the Administrative Procedure Act.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-218 - Judicial Review

(a)    Any applicant for a license or any licensee who is aggrieved by a decision of the Commissioner to deny an application for or suspend or revoke a license may appeal:
(1)    To the circuit court for the county in which the aggrieved person resides or did business; or
(2)    To the Circuit Court for Baltimore City.
(b)    An appeal shall be heard and decided on the record of the proceedings before the Commissioner. However, if the court finds that additional evidence is necessary, the court may permit that evidence to be introduced.
(c)    If a decision of the Commissioner is appealed, the court may reverse, affirm, or modify the decision.
(d)    The aggrieved applicant or licensee or the Commissioner may appeal the decision of the court to the Court of Special Appeals.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-219 - Sale of Loan Account to Unlicensed Person

(a)    A licensee may not sell a loan account to any person who is not licensed under this subtitle.
(b)    A loan account that is acquired by a person who is not licensed under this subtitle is not enforceable.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 2 - Consumer Loans -- Licensing Provisions › Section 11-222 - Penalties

Any person who violates any provision of § 11–203.1(a) of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $5,000 or imprisonment not exceeding 3 years or both.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 3 - Installment Loans -- Licensing Provisions › Section 11-301 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Installment loan” means a loan or extension of credit made for consideration under § 12–103(a)(3) or (c) or Title 12, Subtitle 9, or Subtitle 10 of the Commercial Law Article.
(c)    “License” means a license issued in any form by the Commissioner under this subtitle to make installment loans, including as provided for through NMLS.
(d)    “Licensee” means a person licensed under this subtitle to make installment loans.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 3 - Installment Loans -- Licensing Provisions › Section 11-302 - Scope of Subtitle

(a)    This subtitle does not apply to any loan or extension of credit:
(1)    Between relatives;
(2)    Between an employer and an employee;
(3)    Between a landlord and a tenant; or
(4)    Between a primary or secondary or nonprofit degree–granting postsecondary academic educational institution and a student or parents or guardian of that student, for tuition or other expenses of education at that institution.
(b)    The licensing provisions of this subtitle do not apply to any of the following persons, if organized under the laws of this State or otherwise qualified to do business in this State:
(1)    A banking institution;
(2)    A national banking association;
(3)    A federal or State savings and loan association;
(4)    A federal or State credit union;
(5)    A licensee under Subtitle 2 of this title;
(6)    A seller of goods or services or both not engaged in:
(i)    Making loans; or
(ii)    Acting as a credit services business as defined under Title 14, Subtitle 19 of the Commercial Law Article;
(7)    A licensee under Subtitle 5 of this title engaged solely in a mortgage lending business as defined in that subtitle; or
(8)    An entity exempt from licensing as a mortgage lender under § 11–502(b)(10) of this title.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 3 - Installment Loans -- Licensing Provisions › Section 11-303 - License Required

Unless the person is licensed by the Commissioner, a person may not:
(1)    Engage in the business of making installment loans;
(2)    Make more than 5 installment loans a year; or
(3)    Engage in the business of a credit services business as defined under Title 14, Subtitle 19 of the Commercial Law Article.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 3 - Installment Loans -- Licensing Provisions › Section 11-304 - Application of Maryland Consumer Loan Law -- Licensing Provisions

A license under this subtitle shall be applied for and issued in accordance with, and is subject to, the licensing and investigatory provisions of Subtitle 2 of this title, the Maryland Consumer Loan Law – Licensing Provisions.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-402.1 - 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, investigation fee or assessment, or revenue received by the Commissioner under this subtitle shall be:
(1)    Credited to the Nondepository Special Fund established under § 11–610 of this title; and
(2)    Used in accordance with § 11–610(c) of this title.
(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 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-403 - License Required; Local Licenses Prohibited; Transfer of Information to Nmls

(a)    Except as otherwise provided in this subtitle, a person may not engage in business as a sales finance company unless the person is licensed by the Commissioner.
(b)    A separate license is required for the principal executive office and each branch location where a person engages in business as a sales finance company.
(c)    A political subdivision may not require a licensee to have a local license or pay a local fee for permission to engage in business as a sales finance company.
(d)    During the time period established by the Commissioner under subsection (e) 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 (e)(5) of this section.
(e)    (1)    The Commissioner shall establish a time period that is not 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 (d) of this section, the term of the licensee’s license shall be extended to December 31 of the year in which the license otherwise would have expired.
(5)    The license extension fee required under subsection (d)(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.
(f)    Subject to subsection (d) 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 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-404 - Applications for Licenses

(a)    (1)    To apply for a license, an applicant shall:
(i)    Complete, sign, and submit to the Commissioner a completed 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; and
(iii)    Any other pertinent information that the Commissioner requires.
(b)    With the application, the applicant shall pay to the Commissioner:
(1)    An investigation fee of $100; and
(2)    A license fee of $125.
(c)    For the principal executive office and each branch location 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 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-405 - Grounds for Denial of Application

The Commissioner may deny an application if the applicant or any current owner, director, officer, member, partner, employee, agent, or spouse of the applicant:
(1)    Has had a license revoked under this subtitle;
(2)    Was responsible for any act or omission that caused the revocation under this subtitle of the license of any person; or
(3)    Was convicted of violating any provision of this subtitle or of any other law that regulates agreements.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-406 - Investigation Expenses; Other Payments Prohibited

(a)    In addition to the investigation fee required by § 11-404 of this subtitle, if an applicant applies for a license for a place of business that is located outside of this State, the applicant shall pay to the Commissioner, on presentation by the Commissioner of a detailed account, the reasonable travel and living expenses incurred on account of the investigation.
(b)    Except for the payments required by this section, the applicant may not offer or pay and the examiner may not solicit or accept any payment with regard to the investigation.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-407 - Issuance of License or Denial of Application

(a)    When an applicant for a license files the application and pays the fees required by § 11–404 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)    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 the Commissioner denies an application, the Commissioner shall:
(i)    Notify the applicant of the denial;
(ii)    Refund the license fee to the applicant; and
(iii)    Keep the investigation fee and any charges collected under § 11–406 of this subtitle.
(2)    (i)    Within 20 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 on the application.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-408 - Contents and Scope of Licenses; Additional Licenses

(a)    (1)    Each license provided for through NMLS shall include the following information:
(i)    The name of the licensee;
(ii)    The address of the location at which the business will be conducted; 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 do business under the license, at the licensed location and under the name stated on the license.
(2)    Only one location may be maintained under any one license.
(c)    Subject to § 11–403(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 branch location;
(2)    Complies with §§ 11–404 and 11–406 of this subtitle; and
(3)    Otherwise meets the requirements of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-409 - 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 in which 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 $125; and
(3)    Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.
(c)    To the extent required or permitted by NMLS, the Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.�
(d)    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 § 11–403(d) of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-410 - License Not Transferable; 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 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 engage in business as a sales finance company, 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 grant regular access to the licensed location to members of the general public.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-412 - Surrender of License

(a)    A licensee may surrender the 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 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-412.1 - Confidentiality of Information

(a)    (1)    The requirements under any federal law and Title 4, Subtitles 1 through 4 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 4 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 provision 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 is 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 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-413 - Investigatory Powers of Commissioner

(a)    The Commissioner may not examine or audit any licensee or other person except as expressly provided in this section.
(b)    (1)    If a buyer has reason to believe that any person has violated any provision of this subtitle or of any other law that regulates agreements, the buyer may file with the Commissioner a written complaint that states the details of the alleged violation.
(2)    On receipt of the written complaint, the Commissioner may inspect any books, records, letters, and contracts of any licensee, seller, or other person that relate to the complaint.
(c)    In investigating a written complaint made under this section, the Commissioner may:
(1)    Hold a hearing on the complaint at a time and place in this State that are reasonably convenient to the parties involved;
(2)    Subpoena witnesses;
(3)    Take depositions of witnesses who reside outside of this State in the same manner as provided for depositions to be taken in civil actions in courts of record;
(4)    Pay witnesses the same fees and mileage for their attendance as provided for witnesses in civil actions in courts of record; and
(5)    Administer oaths.
(d)    (1)    If any person fails to comply with an order or subpoena of the Commissioner under this subtitle or to appear as a witness and 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 any county.
(2)    On petition by the Commissioner, the court, if it finds it appropriate to do so, shall order the person to:
(i)    Obey the order or subpoena; and
(ii)    Produce any necessary records, documents, or other evidence.
(e)    The Commissioner shall make findings on any written complaint made under this section and send a copy of the findings to each person involved in the complaint.
(f)    A person may not knowingly refuse to permit the Commissioner to conduct any investigation or examination authorized by this section.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-414 - Suspensions and Revocations

(a)    Subject to the hearing provisions of § 11-415 of this subtitle, the Commissioner may suspend or revoke the license of any licensee, if:
(1)    The licensee knowingly or without exercising due care:
(i)    Violates any provision of this subtitle or of any other law that regulates agreements; or
(ii)    Fails to comply with any demand or requirement that the Commissioner makes under this subtitle;
(2)    The licensee makes any material misstatement in an application for a license;
(3)    The licensee defrauds any buyer, to the buyer’s damage;
(4)    The licensee willfully fails to carry out any written agreement with a buyer;
(5)    The licensee knowingly and repeatedly violates any provision of the Maryland Consumer Debt Collection Act;
(6)    An officer, director, or trustee of or partner in the licensee is responsible for any act or omission that would be a ground for suspending or revoking a license; or
(7)    Any agent or employee of the licensee is responsible for any act or omission that would be a ground for suspending or revoking a license, if the licensee:
(i)    Approves or knows of that or similar acts or omissions; and
(ii)    After giving approval or learning of the act or omission, keeps any benefit, proceeds, profit, or advantage resulting from the act or omission or otherwise ratifies the act or omission.
(b)    If the licensee has more than one place of business, the Commissioner may suspend or revoke only the licenses of the places of business to which the grounds for suspension or revocation relate. However, if the Commissioner suspends or revokes the license of one place of business and finds that the grounds for that action apply to any other place of business, the Commissioner shall take the same action against the license for each other place of business to which the grounds apply.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-415 - Hearings

(a)    Before the Commissioner takes any action under § 11-414 of this subtitle, the Commissioner shall give the licensee 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 the Administrative Procedure Act.
(c)    The hearing notice to be given to the licensee shall be sent by certified mail, return receipt requested, bearing a postmark from the United States Postal Service, to the principal place of business of the licensee in this State at least 10 days before the hearing.
(d)    An order suspending or revoking a license shall state the grounds on which it is based and is not effective until 10 days after written notice of the order is sent to the licensee by certified mail, return receipt requested, bearing a postmark from the United States Postal Service, to the principal place of business of the licensee in this State.
(e)    The Commissioner shall adopt rules and regulations for:
(1)    The conduct of hearings; and
(2)    The form of findings and orders.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-416 - Judicial Review

(a)    Any person aggrieved by a decision of the Commissioner to deny an application for a license or to suspend or revoke a license may appeal to:
(1)    The circuit court for the county where the licensee did or has applied to do business; or
(2)    The Circuit Court for Baltimore City.
(b)    The Commissioner may stay an order that is appealed until the determination of the appeal.
(c)    An appeal under this section shall be tried de novo.
(d)    If a decision of the Commissioner is appealed, the court may reverse, affirm, or modify the decision.
(e)    An aggrieved person or the Commissioner may appeal the decision of the court to the Court of Special Appeals.