Maryland Statutes
Subtitle 9 - Maryland Debt Management Services Act
Section 12-910 - Investigation; Time Period; Issuance; Denial

(a)    After an applicant for a license files a complete application, files a surety bond, and pays the license and investigation fees required under 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 notifies an applicant that a different time period is necessary, 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 surety bond is filed, and the fees are paid.
    (c)    The Commissioner shall issue a license to any applicant that meets the requirements of this subtitle.
    (d)    (1)    If an applicant does not meet the requirements of this subtitle, the Commissioner:
            (i)    Subject to the hearing provisions of § 12–927 of this subtitle, shall deny the application;
            (ii)    Shall notify the applicant immediately of the denial;
            (iii)    Shall refund the license fee; and
            (iv)    Shall keep the investigation fee.
        (2)    (i)    Within 30 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.

Structure Maryland Statutes

Maryland Statutes

Financial Institutions

Title 12 - Miscellaneous Institutions and Activities

Subtitle 9 - Maryland Debt Management Services Act

Section 12-901 - Definitions

Section 12-902 - Applicability

Section 12-904 - Fees

Section 12-905 - Credit of Revenue From Licensing and Payment of Fines and Penalties Into Various Funds

Section 12-906 - Debt Management Services Without License Prohibited; Requirements

Section 12-907 - License Requirements

Section 12-908 - Application

Section 12-909 - Fingerprints and Criminal History Records Check

Section 12-910 - Investigation; Time Period; Issuance; Denial

Section 12-911 - Contents of License; Authorization; Transfer; Display; Notice on Website

Section 12-912 - Term, Expiration, and Renewal of License

Section 12-913 - Surrender

Section 12-914 - Surety Bond

Section 12-915 - Change of Information Included in the Application

Section 12-916 - Requirements for Providing Debt Management Services

Section 12-917 - Trust Account

Section 12-918 - Fees

Section 12-919 - Accounting

Section 12-920 - Prohibited Activities

Section 12-921 - Reports

Section 12-922 - Retention of Books, Accounts, and Records

Section 12-923 - Investigation

Section 12-924 - On-Site Examination

Section 12-925 - License Number to Be Included in Advertisement

Section 12-926 - Denial, Suspension, Revocation of License

Section 12-927 - Hearing

Section 12-928 - Enforcement of Subtitle

Section 12-929 - Penalty for Violation of Subtitle

Section 12-930 - Civil Action

Section 12-931 - Title