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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
Currentness
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.

Credits

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.
End of Document