Section 11-418 – Incorrect Statements Prohibited
A person may not knowingly: (1) Make an incorrect statement of material fact in any application, report, or other statement filed under this subtitle; or (2) Fail to state any material fact that is necessary to give the Commissioner any information that the Commissioner requires under this subtitle.
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 11-415 – 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.
Section 11-416 – Judicial Review
(a) Any person aggrieved by a decision of the Commissioner to deny an application for a license or to suspend or revoke a license may appeal to: (1) The circuit court for the county where the licensee did or has applied to do business; or (2) The Circuit Court for Baltimore City. (b) The Commissioner may stay an order […]
Section 11-402.1 – 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, 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. (b) Notwithstanding subsection […]
Section 11-417 – Effect of Surrender, Suspension, or Revocation
(a) The surrender, suspension, or revocation of a license does not impair or affect any obligation under any agreement that the licensee entered into or acquired before the license was surrendered, suspended, or revoked. (b) In enforcing an agreement and in dealing with the parties to that agreement, a person whose license has been surrendered, suspended, or […]
Section 11-403 – License Required; Local Licenses Prohibited; Transfer of Information to Nmls
(a) Except as otherwise provided in this subtitle, a person may not engage in business as a sales finance company unless the person is licensed by the Commissioner. (b) A separate license is required for the principal executive office and each branch location where a person engages in business as a sales finance company. (c) A political subdivision […]
Section 11-404 – Applications for Licenses
(a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the Commissioner a completed application made under oath in the form, and in accordance with the process, that the Commissioner requires; and (ii) Provide all the information that the Commissioner requests. (2) The application shall include: (i) The applicant’s name, the applicant’s principal executive office […]
Section 11-405 – Grounds for Denial of Application
The Commissioner may deny an application if the applicant or any current owner, director, officer, member, partner, employee, agent, or spouse of the applicant: (1) Has had a license revoked under this subtitle; (2) Was responsible for any act or omission that caused the revocation under this subtitle of the license of any person; or (3) Was convicted […]