Section 12-909 – Fingerprints and Criminal History Records Check
(a) In connection with an initial application, a renewal application, and at any other time the Commissioner requests, an applicant or licensee shall provide fingerprints to NMLS for use by the Federal Bureau of Investigation to conduct criminal history records checks. (b) An applicant or licensee required to provide fingerprints under this section shall pay any processing […]
Section 12-708 – Assessments
(a) The Commissioner, not more often than once per year, may impose annual assessments on each financial institution supervised and examined by the Commissioner under this subtitle, to cover the expense of supervising and examining that financial institution. (b) (1) The Commissioner may assess each financial institution the sum of: (i) $1,000; plus (ii) 8 cents for each $1,000 of […]
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 […]
Section 12-709 – Regulations
The Commissioner may adopt regulations to carry out the provisions of this subtitle.
Section 12-911 – Contents of License; Authorization; Transfer; Display; Notice on Website
(a) (1) Each license provided for through NMLS shall include the following information: (i) The name of the licensee; (ii) The address of the location at which the business is to be conducted; and (iii) The unique identifier of the licensee. (2) The unique identifier of the licensee shall constitute the license number for the license. (b) A license authorizes the licensee […]
Section 12-801 – Purpose
It is the purpose of this subtitle to require certain reports and records of transactions involving currency where the reports and records have a high degree of usefulness in criminal investigations or proceedings which pertain to the subject of the report.
Section 12-802 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Currency” means currency and coin of the United States or any other country. (c) “Department” means the Maryland Department of Labor. (d) (1) “Financial institution” means: (i) A national banking association; (ii) A State banking institution; (iii) A credit union that is organized under the laws of this State or of […]
Section 12-803 – Reports of Transactions in Excess of $10,000
(a) A financial institution shall keep a record of currency transactions in excess of $10,000 and shall file with the Department within 15 days of the date of the transaction pursuant to regulations adopted by the Secretary a complete report of currency transactions in excess of $10,000. (b) The reporting requirements of this section are complied with […]
Section 12-804 – Access to Reports
(a) The Department of Public Safety and Correctional Services and the Office of the Attorney General shall have access to and shall be authorized to inspect and copy any reports filed with the Department under this article. (b) The Department may make the contents of a report available to other criminal justice agencies only for purposes of […]
Section 12-805 – Civil Penalties
(a) The Secretary may assess a civil penalty against any financial institution and any officer, employee, agent, or director of the institution for each knowing and willful violation of this subtitle. (b) (1) The civil penalty may not exceed $50 for each day the violation continues. (2) For purposes of this section, a separate violation occurs at each office, […]