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 this subtitle and any other fee or revenue received by the Commissioner under this subtitle shall be: (1) Credited to the Nondepository Special Fund established under § 11–610 of this article; and (2) Used in accordance with § 11–610(c) of this article. (b) Notwithstanding subsection (a) of this section, […]
Section 12-105 – Licensing — in General
(a) Except as provided in § 12–102(a) or § 12–105.1 of this subtitle, a person may not provide check cashing services unless the person is licensed under this subtitle or is an exempt entity. (b) A separate license is required for the principal executive office of the license applicant or licensee at which, each branch location at […]
Section 12-105.1 – Check Cashing Services by Annually Registered Business — Requirements
(a) A person may provide check cashing services without obtaining a license under this subtitle by registering each year with the Commissioner under this section if the person: (1) Charges a fee of up to 1.5% or $1, whichever is greater, of the face amount of the payment instrument per payment instrument; (2) Provides check cashing services that […]
Section 12-106 – Licensing — Qualifications
To qualify for a license, an applicant shall satisfy the Commissioner that: (1) The applicant’s business will promote the convenience and advantage of the community in which the applicant’s place of business, or mobile unit, will be located; and (2) The applicant or, if the applicant is not an individual, each of the owners, officers, directors, or […]
Section 12-107 – Licensing — Fingerprints; Criminal History Records Check
(a) In connection with an initial application for a license under this subtitle, and at any other time the Commissioner requires, an applicant or licensee shall provide fingerprints, as directed by the Commissioner, to NMLS for use by the Federal Bureau of Investigation to conduct a criminal history records check. (b) An applicant or licensee required under […]
Section 12-107.1 – Confidentiality of Information
(a) (1) The requirements under any federal law and Title 4, Subtitles 1 through 5 of the General Provisions Article regarding the privacy or confidentiality of information or material provided to NMLS, and any privilege arising under federal or state law, including the rules of any federal or state court with respect to that information or material, […]
Section 12-108 – Licensing — Applications
(a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the Commissioner an application made under oath in the form, and in accordance with the process, that the Commissioner requires; and (ii) Provide all the information that the Commissioner requests. (2) The application shall include: (i) The applicant’s name, the applicant’s principal executive office address, […]
Section 12-109 – Licensing — Application Investigation; Approval or Denial
(a) When an applicant for a license files the application and pays the fees required by § 12–108 of 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 and an applicant agree in writing to extend the time, the […]
Section 12-110 – Licensing — Contents and Scope; More Than One License
(a) (1) Each license provided for through NMLS shall include the following information: (i) The name of the licensee; (ii) 1. The address of the location at which check cashing services will be provided; or 2. If the license is for a mobile unit, the vehicle identification number of the mobile unit and the geographic area in which check cashing services […]
Section 12-110.1 – Surrender of License
(a) A licensee may surrender a license through NMLS in accordance with the process that the Commissioner requires. (b) If a license is surrendered voluntarily, or is suspended or revoked, the Commissioner may not refund any part of the license fee regardless of the time remaining in the license term. (c) The surrender of a license does not […]