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Maryland Code, Business Regulation § 7-302

Current as of December 31, 2021 | Updated by FindLaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, Business Regulation § 7-302 - last updated December 31, 2021 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-7-302/

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