Section 7-302 – Applications for Licenses; Renewals
(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 […]
Section 7-302.1 – Board to Set Fees by Regulation
(a) The Board shall set by regulation the fees provided for in this subtitle. (b) The fees established by the Board under this section shall be reasonable and set in a manner that will produce funds sufficient to cover the actual direct and indirect costs of regulating collection agencies in accordance with the provisions of this title. […]
Section 7-302.2 – 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 title and any other fee or revenue received by the Board under this title shall be: (1) credited to the Nondepository Special Fund established under § 11–610 of the Financial Institutions Article; and (2) used in accordance with § 11–610(c) of the Financial Institutions Article. (b) Notwithstanding subsection […]
Section 7-303 – Approval or Denial of Application
(a) Within 60 days after an applicant submits a complete application for a license and pays the fees required by § 7–302 of this subtitle, the Board shall approve or deny the application. (b) To qualify for a license, an applicant shall satisfy the Board that the applicant is of good moral character and has sufficient financial […]
Section 7-304 – Surety Bond
(a) With an application for a new license, an applicant shall file a surety bond with the Board. (b) The bond shall run to the Board, as obligee, for the benefit of: (1) the State; and (2) any member of the public who has a loss or other damage as a result of a violation of this title or […]