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§ 12-1003. Application of subtitle

West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2011

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 10. Maryland Debt Settlement Services Act (Refs & Annos)
Effective: October 1, 2011
MD Code, Financial Institutions, § 12-1003
§ 12-1003. Application of subtitle
This subtitle does not apply to:
(1) The following persons when engaged in the regular course of their respective businesses and professions:
(i) An attorney at law who is admitted to the Maryland Bar while the attorney at law is providing professional legal services in an attorney- client relationship;
(ii) An escrow agent;
(iii) A certified public accountant;
(iv) A banking institution, other-state bank, national banking association, credit union, or savings and loan association;
(v) A person that:
1. Provides a bill payer service, as defined in § 12-401 of this title;
2. Does not initiate any contract with individual creditors of a debtor to compromise a debt or arrange a new payment schedule; and
3. Does not provide any debt counseling services;
(vi) A person that provides an accelerated mortgage payment service, as defined in § 12-401 of this title;
(vii) A title insurer, title insurance agency, or abstract company; or
(viii) A judicial officer or a person acting under a court order;
(2) A person while performing services incidental to the dissolution, winding up, or liquidation of a partnership, corporation, or other business enterprise;
(3) A trade or mercantile association acting in the course of arranging the adjustment of debts with a business establishment;
(4)(i) A mortgage lender, as defined in § 11-501 of this article:
1. That is licensed by the Commissioner; and
2. While engaged in the mortgage lending business, as defined in § 11-501 of this article; or
(ii) An employee of a mortgage lender; or
(5) A collection agency, as defined in § 7-101 of the Business Regulation Article:
(i) That is licensed by the State Collection Agency Licensing Board; and
(ii) While engaged in the collection agency business, as defined in § 7-101 of the Business Regulation Article.


Added by Acts 2011, c. 280, § 1, eff. Oct. 1, 2011; Acts 2011, c. 281, § 1, eff. Oct. 1, 2011.
MD Code, Financial Institutions, § 12-1003, MD FIN INST § 12-1003
Current with legislation effective through June 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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