Current with changes from the 2024 Legislative Session
Section 7-302 - Applications for licenses; renewals(a) An applicant for a license shall: (1) submit a completed application in the form, and in accordance with the process, that the Board requires;(2) pay to the Board: (i) a nonrefundable application fee in the amount set by the Board; and(ii) a nonrefundable investigation fee in the amount set by the Board; and(3) provide all the information that the Board requests.(b) An application shall be made under oath and shall include:(1) the applicant's legal name, any trade name used by the applicant in accordance with § 2-121 of the Financial Institutions Article, and the applicant's principal executive office address, telephone number, e-mail address, and Web site addresses, if any;(2) the address of each additional location, if any, that:(i) the general public may reasonably view as a location that does business as a collection agency, including any location that investigates customer complaints or directly communicates with customers verbally, electronically, or in writing;(ii) houses any core operational infrastructure or technology systems;(iii) conducts any core management, information security and technology, risk and compliance, or finance functions; or(iv) is otherwise required to be listed in NMLS by regulation adopted under this title;(3) the federal employer identification number or Social Security number of the applicant, as applicable;(4) the state of formation and the date of formation of the applicant if the applicant is a business entity;(5) the name and residence address of each control person;(6) the name and address of the principal contact for consumer complaints;(7) the name, address, and telephone number of the applicant's resident agent; and(8) any other information that the Board requests.(c) In addition to any other requirement for licensure under this subtitle, an applicant for a license shall file with the Board a surety bond as required under § 7-304 of this subtitle.(d) The Board shall issue a license to each applicant who meets the requirements of this subtitle.Amended by 2023 Md. Laws, Ch. 567, Sec. 1, eff. 7/1/2023.Amended by 2017 Md. Laws, Ch. 253, Sec. 1, eff. 7/1/2017.