Section 10-119 – Penalty for Submitting False Information
(a) Any person who knowingly submits false information to the Fund is guilty of a misdemeanor. (b) A person who violates the provisions of subsection (a) of this section is subject to a fine of not more than $5,000, or imprisonment for not more than 5 years, or both.
Section 10-120 – Accrual of Certain Rights, Claims, and Liabilities of Fund to Successor Agency or Maryland Department of Labor
(a) In addition to any other remedies available at law or equity, the Fund is vested with all claims and rights of the former Maryland Savings–Share Insurance Corporation against any person. (b) Notwithstanding any other provision of law, in any action of the Fund as insurer, subrogee, conservator, or receiver against a shareholder, director, officer, employee, agent, […]
Section 10-121 – Defense of Sovereign Immunity
The Fund shall have the immunity from liability described under § 5-520 of the Courts and Judicial Proceedings Article.
Section 11-101 – Examination Expenses
(a) (1) In this section the following words have the meanings indicated. (2) “Examination” means an examination or investigation performed by the Commissioner, or the Commissioner’s designee, which is required or authorized under this article or Title 12 of the Commercial Law Article. (3) “Licensee” means a person licensed by the Commissioner under this title. (4) “Person” includes an individual, […]
Section 11-202 – Scope of Subtitle
(a) The Maryland Consumer Loan Law does not change any powers conferred by law on any person who is not required or permitted to be licensed under this subtitle. (b) The Commissioner may not license any bank, trust company, savings bank, credit union, or savings and loan association.
Section 11-203 – Rules and Regulations
The Commissioner may adopt rules and regulations to carry out the provisions of this subtitle.
Section 11-203.1 – Licensing Requirements and Process
(a) Unless a person is licensed by the Commissioner, the person may not: (1) Make a loan; or (2) In any way use any advantage provided by the Maryland Consumer Loan Law. (b) A separate license is required for the principal executive office of the license applicant or licensee and each branch location. (c) During the time period established by […]
Section 11-203.2 – 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 11-203.3 – 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 Subtitle 3 of this title 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 title; and (2) Used in accordance with § 11–610(c) of this title. […]
Section 11-204 – Permitted and Prohibited Loan Activities
(a) A person may not: (1) Receive any application for a loan or allow any note or contract for a loan to be signed at any place of business for which the person does not have a license; (2) Conduct any business under the Maryland Consumer Loan Law under a name different from the name that appears on […]