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Md. Code Ann., Fin. Inst. § 12-422

Known as the Maryland Money Transmission Act

The act spans §§ 12–12 (34 sections).

(a) (1) A licensee may surrender a license through NMLS in accordance with the process that the Commissioner requires.

(2) The statement shall provide a listing, by identifying number, face amount, and place of issue, of all outstanding money transmissions, and the reasons for the license surrender.

(b) The surrender of a license does not:

(1) Affect any civil or criminal liability of the licensee for acts committed before the license is surrendered;

(2) Affect the surety device filed by the licensee; or

(3) Entitle the licensee to the return of any part of any fee.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.