Section 12-1005 – Implementation of Subtitle
To carry out the provisions of this subtitle, the Commissioner may: (1) Adopt regulations; (2) Enter into cooperative and information sharing agreements with any federal or State regulatory agency having authority over debt settlement services providers; and (3) Exchange information about a debt settlement services provider, including information obtained during an examination, with any federal or State regulatory […]
Section 12-1006 – Fees
(a) A person registering as a debt settlement services provider with the Commissioner under this subtitle shall pay to the Commissioner a nonrefundable fee in the amount of: (1) $400 for the issuance of a registration under this subtitle; and (2) $400 for the renewal of a registration under this subtitle. (b) In addition to the registration fee required […]
Section 12-1007 – Use of Fees; Fines and Penalties Paid to General Fund
(a) All revenue received for the registration of persons under this subtitle and, except as provided in subsection (b) of this section, any other fee, examination assessment, 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 […]
Section 12-1008 – Application
(a) To apply for a registration, an applicant shall submit to the Commissioner an application on the form that the Commissioner provides. (b) The application shall include: (1) The applicant’s legal name, trade name, if any, main office address, telephone number, electronic mail address, if any, and website address, if any; (2) The name, address, and telephone number of […]
Section 12-1009 – Registration — Expiration and Renewal
(a) A registration issued under this subtitle expires on December 31 of each year. (b) On or after November 1 of the year in which a registration expires, the registration may be renewed for an additional 1–year term if the registrant: (1) Otherwise is entitled to be registered; (2) Pays to the Commissioner the renewal fee established under § […]
Section 12-1010 – Debt Settlement Services Fee
(a) Except as allowed under this subtitle, a registrant may not offer, provide, or attempt to provide debt settlement services in the State. (b) (1) A registrant may charge a consumer a debt settlement services fee as provided under this section. (2) A registrant may not: (i) Charge a consumer a fee for consultation or for obtaining a consumer’s credit […]
Section 12-1011 – Material Representation Prohibited
A registrant may not misrepresent any material aspect of any debt settlement service.
Section 12-927 – Hearing
(a) Before the Commissioner denies an application for a license under § 12-910 of this subtitle or takes any action under § 12-926 of this subtitle, the Commissioner shall give the applicant or licensee an opportunity for a hearing. (b) Notice of the hearing shall be given and the hearing shall be held in accordance with Title […]
Section 12-912 – Term, Expiration, and Renewal of License
(a) An initial license term shall: (1) Begin on the date the license is issued; and (2) Expire on December 31 of the year: (i) In which the license is issued, if the license is issued before November 1; or (ii) Immediately following the year that the license is issued, if the license is issued on or after November 1. […]
Section 12-928 – Enforcement of Subtitle
(a) (1) The Commissioner may enforce the provisions of this subtitle and regulations adopted under this subtitle by: (i) Issuing an order requiring the violator: 1. To cease and desist from the violation and any further similar violations; and 2. To take affirmative action to correct the violation, including the restitution of money or property to any person aggrieved by […]