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§ 12-109. Approval or denial of license

West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2017

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 1. Check Cashing Services (Refs & Annos)
Effective: July 1, 2017
MD Code, Financial Institutions, § 12-109
§ 12-109. Approval or denial of license
Investigation by Commissioner
(a) When an applicant for a license files the application and pays the fees required by § 12-108 of this subtitle, the Commissioner shall investigate the facts relevant to the application to determine if the applicant meets the requirements of this subtitle.
Deadline for determination
(b) Unless the Commissioner and an applicant agree in writing to extend the time, the Commissioner shall approve or deny each application for a license within 60 days after the date on which the complete application is filed and the fees are paid.
Duty of Commissioner to issue license to qualified applicants
(c) The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle.
Notice of denial of license
(d)(1) If an applicant does not meet the requirements of this subtitle, the Commissioner shall:
(i) Deny the application;
(ii) Notify the applicant immediately of the denial;
(iii) Refund the license fee; and
(iv) Retain the investigation fee.
(2)(i) Within 10 days after the Commissioner denies an application, the Commissioner shall send a written notice to the applicant stating the reasons for the denial.
(ii) The notice shall be sent by United States mail, e-mail, or any means provided through NMLS to the address listed in the application.

Credits

Added by Acts 2000, c. 614, § 2, eff. Oct. 1, 2000. Amended by Acts 2017, c. 253, § 1, eff. July 1, 2017.
MD Code, Financial Institutions, § 12-109, MD FIN INST § 12-109
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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