Section 11-220 – Reporting of Criminal Violations
The Commissioner shall report to the appropriate State’s Attorney any alleged criminal violation of the Maryland Consumer Loan Law.
Section 11-221 – Interpretation and Construction of Subtitle
This subtitle shall be interpreted and construed to effectuate its general remedial purpose.
Section 11-222 – Penalties
Any person who violates any provision of § 11–203.1(a) 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 11-223 – Short Titles
(a) This subtitle may be cited as the Maryland Consumer Loan Law – Licensing Provisions. (b) This subtitle and the Maryland Consumer Loan Law – Credit Provisions may be cited jointly as the Maryland Consumer Loan Law.
Section 11-208 – Contents and Scope of Licenses; Additional Licenses
(a) (1) Each license provided for through NMLS shall include the following information: (i) The name of the licensee; (ii) The address of the location at which the business is to be conducted; and (iii) The unique identifier of the licensee. (2) The unique identifier of the licensee shall constitute the license number for the license. (b) (1) A license authorizes the licensee […]
Section 11-209 – Term and Renewal of Licenses
(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 11-209.1 – 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 […]
Section 11-210 – 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 11-211 – Change of Location
A licensee may not change the location for which a license is issued unless the licensee: (1) Provides to the Commissioner, in the form and in accordance with the process that the Commissioner requires, notice of the proposed change; and (2) Receives the written consent of the Commissioner by United States mail, e–mail, or any means provided […]
Section 11-213 – Licensee to Keep Books and Records
Each licensee shall keep: (1) The books and records that the Commissioner considers necessary to determine compliance with the Maryland Consumer Loan Law; and (2) For at least 2 years after the licensee makes the final entry on any loan in the licensee’s business, the records of that entry, including cards used in a card system.