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§ 12-1102. Registration and regulation of student financing companies

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

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 11. Student Financing Companies (Refs & Annos)
Effective: October 1, 2023
MD Code, Financial Institutions, § 12-1102
§ 12-1102. Registration and regulation of student financing companies
Currentness
Registration
(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.
Application
(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.
Annual renewal
(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.
Commissioner duties
(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.

Credits

Added by Acts 2023, c. 456, § 1, eff. Oct. 1, 2023.
MD Code, Financial Institutions, § 12-1102, MD FIN INST § 12-1102
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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