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Maryland Code, Financial Institutions § 12-122

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Subject to the hearing provisions of § 12-123 of this subtitle, the Commissioner may suspend or revoke the license of any licensee or registration of any registrant if the licensee or registrant, or any owner, director, officer, member, partner, stockholder, employee, or agent of the licensee or registrant:

(1) Makes any material misstatement in an application for a license or registration;

(2) Is convicted under the laws of the United States or of any other state of:

(i) A felony; or

(ii) A misdemeanor that is directly related to the fitness and qualification of the person to provide check cashing services;

(3) In connection with any check cashing service:

(i) Commits any fraud;

(ii) Engages in any illegal or dishonest activities; or

(iii) Misrepresents or fails to disclose any material facts to anyone entitled to that information;

(4) Violates any provision of this subtitle or any rule or regulation adopted under this subtitle, or any other law regulating check cashing services in the State; or

(5) Otherwise demonstrates unworthiness, bad faith, dishonesty, or any other quality that indicates that the business of the licensee or registrant has not been or will not be conducted honestly, fairly, equitably, and efficiently.

(b) In determining whether the license of the licensee or registration of the registrant should be suspended or revoked for a reason listed in subsection (a)(2) of this section, the Commissioner shall consider:

(1) The nature of the crime;

(2) The relationship of the crime to the activities authorized by the license or registration;

(3) With respect to a felony, the relevance of the conviction to the fitness and qualification of the licensee or registrant to provide check cashing services;

(4) The length of time since the conviction; and

(5) The behavior and activities of the licensee or registrant since the conviction.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 12-122 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-12-122/

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