Md. Code Ann., Bus. Reg. § 7-302
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2024
As of January 1, 2019
(a) An applicant for a license shall:
(1) submit a completed application in the form, and in accordance with the process, that the Board requires;
(2) pay to the Board:
(i) a nonrefundable application fee in the amount set by the Board; and
(ii) a nonrefundable investigation fee in the amount set by the Board; and
(3) provide all the information that the Board requests.
(a) An applicant for a license shall:
(1) submit a completed application in the form, and in accordance with the process, that the Board requires;
(2) pay to the Board:
(i) a nonrefundable application fee in the amount set by the Board; and
(ii) a nonrefundable investigation fee in the amount set by the Board; and
(3) provide all the information that the Board requests.
(b) An application shall be made under oath and shall include: (1) the applicant’s name, principal executive office address, telephone number, e–mail address, and Web site addresses, if any; (2) the address of each branch location, if any; (3) the federal employer identification number or Social Security number of the applicant, as applicable; (4) the state of formation and the date of formation of the applicant if the applicant is a business entity; (5) the name and residence address of each control person; (6) the name and address of the principal contact for consumer complaints; (7) the name, address, and telephone number of the applicant’s resident agent; and (8) any other information that the Board requests.
(b) An application shall be made under oath and shall include: (1) the applicant’s legal name, any trade name used by the applicant in accordance with § 2–121 of the Financial Institutions Article, and the applicant’s principal executive office address, telephone number, e–mail address, and Web site addresses, if any; (2) the address of each additional location, if any, that: (i) the general public may reasonably view as a location that does business as a collection agency, including any location that investigates customer complaints or directly communicates with customers verbally, electronically, or in writing; (ii) houses any core operational infrastructure or technology systems; (iii) conducts any core management, information security and technology, risk and compliance, or finance functions; or (iv) is otherwise required to be listed in NMLS by regulation adopted under this title; (3) the federal employer identification number or Social Security number of the applicant, as applicable; (4) the state of formation and the date of formation of the applicant if the applicant is a business entity; (5) the name and residence address of each control person; (6) the name and address of the principal contact for consumer complaints; (7) the name, address, and telephone number of the applicant’s resident agent; and (8) any other information that the Board requests.
(c) If an applicant wishes to do business as a collection agency at a branch location, the applicant shall submit a separate application and pay a separate application fee and investigation fee for each branch location.
(c) In addition to any other requirement for licensure under this subtitle, an applicant for a license shall file with the Board a surety bond as required under § 7–304 of this subtitle.
(d) The Board shall issue a license to each applicant who meets the requirements of this subtitle.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.