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§ 11-503.2. Revenue from fees and assessments

West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2023

West's Annotated Code of Maryland
Financial Institutions
Title 11. Consumer Credit
Subtitle 5. Maryland Mortgage Lender Law (Refs & Annos)
Effective: July 1, 2023
MD Code, Financial Institutions, § 11-503.2
§ 11-503.2. Revenue from fees and assessments
Use of revenue
(a) All revenue received for the licensing and assessment of persons under this subtitle and any other fee, examination or investigation fee or assessment, or revenue received by the Commissioner under this subtitle shall be:
(1) Credited to the Non-Depository Special Fund established under § 2-120 of this article; and
(2) Used in accordance with § 2-120(d) of this article.
Payment of fines and penalties
(b) Notwithstanding subsection (a) of this section, the Commissioner shall pay all fines and penalties collected by the Commissioner under this subtitle into the General Fund of the State.
Assessments
(c) Subject to § 2-120(h) of this article, the Commissioner may impose an annual assessment on any licensee under this subtitle.

Credits

Added by Acts 2016, c. 341, § 1, eff. July 1, 2016. Amended by Acts 2018, c. 479, § 1, eff. June 1, 2018; Acts 2023, c. 567, § 1, eff. July 1, 2023.
MD Code, Financial Institutions, § 11-503.2, MD FIN INST § 11-503.2
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.
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