Section 11-511.1 – Continuing Education
(a) By July 1, 2000, the Commissioner shall adopt regulations that set continuing education requirements as a condition to the renewal of licenses under this subtitle. (b) Any continuing education requirements established by the Commissioner under this section shall apply to the first renewal of a license.
Section 11-419 – Penalties
Any person who violates or participates in the violation of any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $500 or imprisonment not exceeding 6 months or both.
Section 11-512 – Change of Place of Business; Change in Control
(a) (1) A licensee may not change the place of business for which a license is issued unless the licensee: (i) Notifies the Commissioner through NMLS of the proposed change; and (ii) Receives the approval of the Commissioner through NMLS. (2) Within 60 days after receiving a request for approval of a proposed change in the place of business for […]
Section 11-502 – Applicability
(a) In this section, “affiliate” means any company that controls, is controlled by, or is under common control with an institution described in subsection (c) of this section. (b) The provisions of this subtitle do not apply to: (1) Any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under the laws […]
Section 11-512.1 – Information Posted by Licensee at Licensed Location and on Website — Exclusion
(a) Each licensee shall conspicuously post, in 48 point or larger type, at the licensee’s licensed location the following information: (1) The licensee’s unique identifier; and (2) A statement advising consumers of the availability of the NMLS Consumer Access website to verify the licensing status of the licensee. (b) Each licensee shall conspicuously display the following information on the […]
Section 11-503 – Rules and Regulations
The Commissioner may adopt rules and regulations to carry out the provisions of this subtitle.
Section 11-503.1 – Fee Regulations
(a) The Commissioner shall set by regulation the fees provided for in this subtitle. (b) The fees established by the Commissioner 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 licensees in accordance with the provisions of this subtitle. (c) The […]
Section 11-503.2 – 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 subtitle and any other fee, examination or investigation fee or 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 title; and (2) Used in accordance with § 11–610(c) of this title. […]
Section 11-504 – License or Registration Requirement
A person may not act as a mortgage lender unless the person is: (1) A licensee; or (2) A person exempted from licensing under this subtitle.
Section 11-410 – License Not Transferable; Display
(a) A license is not transferable. (b) (1) Each licensee shall conspicuously post, in 48 point or larger type, at the licensee’s licensed location the following information: (i) The licensee’s unique identifier; and (ii) A statement advising consumers of the availability of the NMLS Consumer Access website to verify the licensing status of the licensee. (2) Each licensee shall conspicuously display […]