Section 11-409 – Term; Expiration and Renewal
(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 in which the license is issued, if the license is issued on or after November […]
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 […]
Section 11-411 – Change of Location
If a licensee changes the location for which a license is issued, the licensee immediately shall provide to the Commissioner, in the form and in accordance with the process that the Commissioner requires, notice of the change.
Section 11-412 – Surrender of License
(a) A licensee may surrender the 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 […]
Section 11-412.1 – Confidentiality of Information
(a) (1) The requirements under any federal law and Title 4, Subtitles 1 through 4 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 11-413 – Investigatory Powers of Commissioner
(a) The Commissioner may not examine or audit any licensee or other person except as expressly provided in this section. (b) (1) If a buyer has reason to believe that any person has violated any provision of this subtitle or of any other law that regulates agreements, the buyer may file with the Commissioner a written complaint that […]
Section 11-414 – Suspensions and Revocations
(a) Subject to the hearing provisions of § 11-415 of this subtitle, the Commissioner may suspend or revoke the license of any licensee, if: (1) The licensee knowingly or without exercising due care: (i) Violates any provision of this subtitle or of any other law that regulates agreements; or (ii) Fails to comply with any demand or requirement that […]
Section 11-305 – Penalties
Any person who violates any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $5,000 or imprisonment not exceeding 3 years or both.
Section 11-415 – Hearings
(a) Before the Commissioner takes any action under § 11-414 of this subtitle, the Commissioner shall give the licensee an opportunity for a hearing before the Commissioner. (b) Notice of the hearing shall be given and the hearing shall be held in accordance with the Administrative Procedure Act. (c) The hearing notice to be given to the licensee […]
Section 11-402 – Scope of Subtitle
The licensing provisions of this subtitle do not apply to any banking institution, national banking association, or other-state bank having a branch in this State.