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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Beginning March 15, 2024, a student financing company shall register with the Commissioner as a student financing company before providing services in the State.
(b) An application for registration shall include:
(1) The student financing company's name;
(2) The student financing company's address;
(3) The name of all officers, directors, partners, and owners of controlling interests of the student financing company;
(4) The addresses of all officers, directors, partners, and owners of controlling interests in the student financing company; and
(5) Any other information that the Commissioner requires by regulation.
(c) A student financing company shall renew its registration on an annual basis, and may be required to pay a fee at the time of renewal.
(d) The Commissioner may adopt and enforce:
(1) Registration procedures for student financing companies, which may include the use of NMLS;
(2) Registration fees for student financing companies, which may include fees for the use of NMLS, to be paid directly by the student financing company;
(3) Procedures and fees for renewing a student financing company's registration, which may include fees for the renewed use of NMLS, to be paid directly by the student financing company; and
(4) Alternate registration procedures and fees for institutions of postsecondary education that offer student financing products.
Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 12-1102 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-12-1102/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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