Maryland Statutes
Financial Institutions
Title 12 - Miscellaneous Institutions and Activities

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...

Section 12-105 - Licensing -- in General - (a) Except as provided in § 12–102(a) or § 12–105.1...

Section 12-105.1 - Check Cashing Services by Annually Registered Business -- Requirements - (a) A person may provide check cashing services without obtaining...

Section 12-106 - Licensing -- Qualifications - To qualify for a license, an applicant shall satisfy the...

Section 12-107 - Licensing -- Fingerprints; Criminal History Records Check - (a) In connection with an initial application for a license...

Section 12-107.1 - Confidentiality of Information - (a) (1) The requirements under any federal law and Title...

Section 12-108 - Licensing -- Applications - (a) (1) To apply for a license, an applicant shall:...

Section 12-109 - Licensing -- Application Investigation; Approval or Denial - (a) When an applicant for a license files the application...

Section 12-110 - Licensing -- Contents and Scope; More Than One License - (a) (1) Each license provided for through NMLS shall include...

Section 12-110.1 - Surrender of License - (a) A licensee may surrender a license through NMLS in...

Section 12-111 - Licensing -- Term, Expiration, and Renewal - (a) An initial license term shall: (1) Begin on the...

Section 12-112 - Licensing -- Transfer and Display - (a) A license is not transferable. (b) (1) Each licensee...

Section 12-113 - Change of Location - A licensee may not change the location for which a...

Section 12-114 - Books and Records -- Retention - (a) A licensee shall keep the books and records that...

Section 12-115 - Books and Records -- Investigation of Records - (a) At any time and as often as the Commissioner...

Section 12-116 - Endorsement of Payment Instrument - Before a licensee deposits a payment instrument in or presents...

Section 12-117 - Compliance With Federal and State Laws - A licensee shall comply with all federal and State laws...

Section 12-118 - Posting of Fees - A licensee shall conspicuously post, in 48 point or larger...

Section 12-119 - Payment of Instrument; Forms of Customer Identification - (a) A licensee shall pay a customer, in United States...

Section 12-120 - Maximum Fees; Membership Fee - (a) Except as provided in § 15-802(b) of the Commercial...

Section 12-121 - Cease and Desist Orders - Subject to the hearing provisions of § 12–123 of this...

Section 12-122 - Suspension and Revocation of License - (a) Subject to the hearing provisions of § 12–123 of...

Section 12-123 - Notice and Hearing Requirements - (a) Before the Commissioner takes any action under § 12–121,...

Section 12-124 - Report of Alleged Criminal Violation - The Commissioner shall report to the appropriate State’s Attorney or...

Section 12-125 - Criminal Penalties - A person who knowingly violates this subtitle is guilty of...

Section 12-126 - Civil Penalties - (a) The Commissioner may impose a civil penalty against a...

Section 12-127 - Action for Damages or Injunctive Relief; Award Amounts - (a) A person who is injured by a violation of...

Subtitle 2 - Foreign Banks

Part I - Definitions

Section 12-201 - Definitions - (a) In this subtitle the following words have the meanings...

Part III - Offices

Section 12-207 - Offices Restricted; Exemption - (a) Except as provided in subsection (b) of this section,...

Section 12-208 - Applications for Permits - (a) To apply for a permit for an office, a...

Section 12-209 - Issuance of Permit - On application for a permit, the Commissioner shall issue the...

Section 12-210 - Term and Renewal of Permit - (a) A permit expires on the third anniversary of its...

Section 12-211 - Power to Set Fees - The Commissioner shall set the application and renewal fees in...

Subtitle 4 - Maryland Money Transmission Act

Section 12-401 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-402 - Scope of Subtitle - (a) The provisions of this subtitle do not apply to:...

Section 12-403 - Powers of Commissioner - To carry out the provisions of this subtitle, the Commissioner...

Section 12-404 - Credit of Revenue From Licensing and Payment of Fines and Penalties Into Various Funds - (a) All revenue received for the licensing of money transmitters...

Section 12-405 - License Required - (a) A person may not engage in the business of...

Section 12-406 - Qualifications of Applicant for License - (a) To qualify for a license, an applicant shall satisfy...

Section 12-407 - Applications for Licenses - (a) (1) To apply for a license, an applicant shall:...

Section 12-408 - Fingerprinting - (a) This section does not apply to any corporation the...

Section 12-408.1 - Privacy or Confidentiality of Information and Privilege Under Federal or State Law - (a) (1) The requirements under any federal law and Title...

Section 12-409 - Investigation of Application; Issuance or Denial of License - (a) After the filing of a complete application, the Commissioner...

Section 12-410 - Contents and Scope of Licenses; Additional Licenses - (a) (1) Each license provided for through NMLS shall include...

Section 12-411 - Term and Renewal of Licenses - (a) Subject to any regulations the Commissioner adopts in connection...

Section 12-412 - Required Bond or Permissible Investments - (a) In this section, “trust company” has the meaning stated...

Section 12-413 - Authorized Delegate - (a) (1) Each authorized delegate that a licensee appoints under...

Section 12-413.1 - Training to Recognize Financial Abuse and Exploitation of Elder Adult - (a) (1) In this section the following words have the...

Section 12-414 - Fraud, False Statements, or Misrepresentation Prohibited; Management of Funds; Reporting Loss or Theft of Funds - (a) An authorized delegate may not make any fraudulent or...

Section 12-415 - Change of Location or Control; Penalties - (a) (1) A licensee may not change the place of...

Section 12-416 - Reports to Commissioner - (a) A licensee shall submit to NMLS a call report...

Section 12-417 - Compliance With Federal and State Laws - A licensee shall comply with all federal and State laws...

Section 12-418 - Required Permissible Investments; Segregation of Money by Authorized Delegate - (a) (1) Subject to paragraph (2) of this subsection, a...

Section 12-419 - Issuance of Duplicate Payment Instruments - (a) The original buyer of a payment instrument may request...

Section 12-420 - Redemption of Unused Payment Instruments - Except as permitted by § 17-308.1 of the Commercial Law...

Section 12-421 - Determination of Compliance With Subtitle - If the Commissioner finds that the books, records, and accounting...

Section 12-422 - Voluntary Surrender of License - (a) (1) A licensee may surrender a license through NMLS...

Section 12-423 - Investigatory Powers of Commissioner - (a) To discover any violations of this subtitle or to...

Section 12-424 - Examinations - (a) The Commissioner may conduct an on–site examination of a...

Section 12-425 - Required Records - (a) Each licensee shall make and preserve the following books,...

Section 12-426 - Violations - (a) Subject to the hearing provisions of § 12-428 of...

Section 12-427 - Persons Subject to Enforcement - A money transmitter is subject to the enforcement provisions of...

Section 12-428 - Hearings - (a) Before the Commissioner denies an application for a license...

Section 12-429 - Enforcement of Subtitle - The State’s Attorney for the county in which the violation...

Section 12-430 - Penalties - Any person who knowingly and willfully violates any provision of...

Section 12-430.1 - Reporting and Enforcement of Actions Against Money Transmitters - (a) (1) Notwithstanding Title 4, Subtitles 1 through 5 of...

Section 12-431 - Short Title - This subtitle may be cited as the Maryland Money Transmission...

Subtitle 6 - Safe-Deposit Companies

Section 12-601 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-602 - Access by Fiduciaries to Safe-Deposit Boxes - (a) In this section, “fiduciary” includes the fiduciary’s successor. (b)...

Section 12-603 - Access to Search for Lessee's Will - If the lessee of a safe-deposit box dies and, before...

Section 12-604 - Limitations on Liability - (a) In a contract governing the use of a safe-deposit...

Subtitle 7 - Supervision and Examination of Tax Exempt Financial Institutions

Section 12-701 - Supervision and Examination; Application - (a) A financial institution may apply to the Commissioner to...

Section 12-702 - Qualification - To qualify for supervision and examination, the applicant shall satisfy...

Section 12-703 - Form of Application; Fee - (a) (1) To apply for supervision and examination under this...

Section 12-704 - Reporting Requirements - Any financial institution supervised and examined under this subtitle shall...

Section 12-705 - Termination of Power to Supervise and Examine - (a) If the Commissioner believes that a financial institution supervised...

Section 12-706 - Hearing - (a) If the Commissioner takes any action under § 12-705(b)...

Section 12-707 - Appeal - Any person who is aggrieved by any decision or finding...

Section 12-708 - Assessments - (a) The Commissioner, not more often than once per year,...

Section 12-709 - Regulations - The Commissioner may adopt regulations to carry out the provisions...

Subtitle 8 - Currency Transactions

Section 12-801 - Purpose - It is the purpose of this subtitle to require certain...

Section 12-802 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-803 - Reports of Transactions in Excess of $10,000 - (a) A financial institution shall keep a record of currency...

Section 12-804 - Access to Reports - (a) The Department of Public Safety and Correctional Services and...

Section 12-805 - Civil Penalties - (a) The Secretary may assess a civil penalty against any...

Section 12-806 - Notice Regarding Information No Longer Available From Federal Agency - If the information required by § 12-803(a) of this subtitle...

Subtitle 9 - Maryland Debt Management Services Act

Section 12-901 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-902 - Applicability - This subtitle does not apply to: (1) The following persons...

Section 12-904 - Fees - (a) An applicant shall submit separate applications for the applicant’s...

Section 12-905 - Credit of Revenue From Licensing and Payment of Fines and Penalties Into Various Funds - (a) All revenue received for the licensing of persons under...

Section 12-906 - Debt Management Services Without License Prohibited; Requirements - (a) Whether or not the person maintains an office in...

Section 12-907 - License Requirements - (a) To qualify for a license, an applicant shall satisfy...

Section 12-908 - Application - (a) To apply for a license, an applicant shall: (1)...

Section 12-909 - Fingerprints and Criminal History Records Check - (a) In connection with an initial application, a renewal application,...

Section 12-910 - Investigation; Time Period; Issuance; Denial - (a) After an applicant for a license files a complete...

Section 12-911 - Contents of License; Authorization; Transfer; Display; Notice on Website - (a) (1) Each license provided for through NMLS shall include...

Section 12-912 - Term, Expiration, and Renewal of License - (a) An initial license term shall: (1) Begin on the...

Section 12-913 - Surrender - (a) (1) A licensee may surrender a license through NMLS...

Section 12-914 - Surety Bond - (a) With the application for a new license, an applicant...

Section 12-915 - Change of Information Included in the Application - (a) (1) A licensee shall update through NMLS any change...

Section 12-916 - Requirements for Providing Debt Management Services - (a) (1) A licensee may not perform debt management services...

Section 12-917 - Trust Account - (a) Within 2 business days after receipt, a licensee shall...

Section 12-918 - Fees - (a) With respect to the provision of debt management services,...

Section 12-919 - Accounting - (a) A licensee shall provide to each consumer with whom...

Section 12-920 - Prohibited Activities - (a) A licensee may not: (1) Purchase any debt or...

Section 12-921 - Reports - (a) (1) On or before April 30 of each year,...

Section 12-922 - Retention of Books, Accounts, and Records - (a) To enable the Commissioner to determine compliance with this...

Section 12-923 - Investigation - (a) To discover any violations of this subtitle or to...

Section 12-924 - On-Site Examination - (a) The Commissioner may conduct an on-site examination of a...

Section 12-925 - License Number to Be Included in Advertisement - A licensee shall include in any advertisement the licensee’s unique...

Section 12-926 - Denial, Suspension, Revocation of License - (a) Except as provided in subsection (c) of this section,...

Section 12-927 - Hearing - (a) Before the Commissioner denies an application for a license...

Section 12-928 - Enforcement of Subtitle - (a) (1) The Commissioner may enforce the provisions of this...

Section 12-929 - Penalty for Violation of Subtitle - A person who knowingly and willfully violates any provision of...

Section 12-930 - Civil Action - In addition to any other remedies provided in this subtitle,...

Section 12-931 - Title - This subtitle may be cited as the Maryland Debt Management...

Subtitle 10 - Maryland Debt Settlement Services Act

Section 12-1001 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-1002 - Scope of Provisions; Providing Debt Management Services - (a) Subject to subsection (b) of this section, the provisions...

Section 12-1003 - Applicability of Subtitle - This subtitle does not apply to: (1) The following persons...

Section 12-1004 - Registration Required - (a) A person may not offer, provide, or attempt to...

Section 12-1005 - Implementation of Subtitle - To carry out the provisions of this subtitle, the Commissioner...

Section 12-1006 - Fees - (a) A person registering as a debt settlement services provider...

Section 12-1007 - Use of Fees; Fines and Penalties Paid to General Fund - (a) All revenue received for the registration of persons under...

Section 12-1008 - Application - (a) To apply for a registration, an applicant shall submit...

Section 12-1009 - Registration -- Expiration and Renewal - (a) A registration issued under this subtitle expires on December...

Section 12-1010 - Debt Settlement Services Fee - (a) Except as allowed under this subtitle, a registrant may...

Section 12-1011 - Material Representation Prohibited - A registrant may not misrepresent any material aspect of any...

Section 12-1012 - Debt Settlement Services Agreement - (a) A debt settlement services agreement shall: (1) Be signed...

Section 12-1013 - Advertisement - An advertisement for debt settlement services shall include clearly and...

Section 12-1014 - Surety Bond - (a) A registrant that establishes a dedicated account in accordance...

Section 12-1015 - Annual Report - (a) On or before March 15 of each year, a...

Section 12-1016 - Violation of Subtitle - A violation of this subtitle is: (1) An unfair or...

Section 12-1017 - Short Title - This subtitle may be cited as the Maryland Debt Settlement...

<< Previous

Next >>

Maryland Statutes Financial Institutions Title 12 - Miscellaneous Institutions and Activities

Maryland Statutes
Financial Institutions
Title 12 - Miscellaneous Institutions and Activities