Home Table of Contents

§ 12-423. Investigations by Commissioner

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 4. Maryland Money Transmission Act
MD Code, Financial Institutions, § 12-423
§ 12-423. Investigations by Commissioner
In general
(a) To discover any violations of this subtitle or to obtain any information required by this subtitle, the Commissioner at any time may investigate the business of:
(1) Any licensee;
(2) Any person who is engaged or participating in the business of money transmission, whether as authorized delegate, principal, agent, or otherwise; and
(3) Any other person who the Commissioner has cause to believe is violating this subtitle or any regulation adopted under this subtitle whether that person claims to be within or beyond the scope of this subtitle.
Access to place of business, books, records, and persons
(b) For the purposes of this section, the Commissioner:
(1) Shall be given access to the place of business, books, papers, records, safes, and vaults of the person under investigation; and
(2) May summon and examine under oath any person whose testimony the Commissioner requires.
Failure to comply with subpoena or summons of Commissioner
(c)(1) If a person fails to comply with a subpoena or summons of the Commissioner under this subtitle or to testify concerning any matter about which the person may be interrogated under this subtitle, the Commissioner may file a petition for enforcement with the circuit court for any county.
(2) On petition by the Commissioner, the court may order the person to attend and testify or produce evidence.


Added as Financial Institutions § 12-419 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 541, § 1, eff. July 1, 1980; Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 1997, c. 23, § 1, eff. Oct. 1, 1997. Renumbered as Financial Institutions § 12-423 by Acts 2002, c. 539, § 1, eff. Oct. 1, 2002. Amended by Acts 2002, c. 539, § 1, eff. Oct. 1, 2002.
Formerly Art. 11, § 219.
MD Code, Financial Institutions, § 12-423, MD FIN INST § 12-423
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document