Maryland Code, Financial Institutions § 12-406

(1) Is of good moral character and has sufficient financial responsibility, business experience, and general fitness to:

(2) Will keep at all times the permissible investments required under § 12-418 of this subtitle;

(3) Has a tangible net worth computed according to generally accepted accounting principles of at least $150,000, plus an additional net worth of $10,000 for each licensed location or authorized delegate, up to a maximum of $500,000 as provided in subsection (b) of this section; and

(4) Has at least 3 years of experience in the business of money transmission or other related financial services business under the following conditions:

(1) The nature and volume of the business or proposed business of the applicant;

(2) The amount, nature, quality, and liquidity of the assets of the applicant;

(3) The amount and nature of the liabilities, including contingent liabilities, of the applicant;

(4) The history of, and prospects for, the applicant to earn and retain income;

(5) The quality of the operations of the applicant;

(6) The quality of the management of the applicant;

(7) The nature and quality of the person that has control of the applicant; and

(8) Any other factor the Commissioner deems relevant.