(a) An applicant for a license shall:
(1) submit a completed application in the form, and in accordance with the process, that the Board requires;
(i) a nonrefundable application fee in the amount set by the Board; and
(ii) a nonrefundable investigation fee in the amount set by the Board; and
(3) provide all the information that the Board requests.
(b) An application shall be made under oath and shall include:
(1) the applicant's legal name, any trade name used by the applicant in accordance with § 2-121 of the Financial Institutions Article, and the applicant's principal executive office address, telephone number, e-mail address, and Web site addresses, if any;
(2) the address of each additional location, if any, that:
(i) the general public may reasonably view as a location that does business as a collection agency, including any location that investigates customer complaints or directly communicates with customers verbally, electronically, or in writing;
(ii) houses any core operational infrastructure or technology systems;
(iii) conducts any core management, information security and technology, risk and compliance, or finance functions; or
(iv) is otherwise required to be listed in NMLS by regulation adopted under this title;
(3) the federal employer identification number or Social Security number of the applicant, as applicable;
(4) the state of formation and the date of formation of the applicant if the applicant is a business entity;
(5) the name and residence address of each control person;
(6) the name and address of the principal contact for consumer complaints;
(7) the name, address, and telephone number of the applicant's resident agent; and
(8) any other information that the Board requests.
(c) In addition to any other requirement for licensure under this subtitle, an applicant for a license shall file with the Board a surety bond as required under § 7-304 of this subtitle.
(d) The Board shall issue a license to each applicant who meets the requirements of this subtitle.
Credits
Added by Acts 1992, c. 4, § 2. Amended by Acts 1992, c. 142; Acts 1996, c. 58, § 1, eff. Oct. 1, 1996; Acts 1997, c. 22, § 1, eff. Oct. 1, 1997; Acts 1997, c. 22, § 1, eff. Oct. 1, 1997. Amended by Acts 2010, c. 149, § 1, eff. Oct. 1, 2010; Acts 2017, c. 253, § 1, eff. July 1, 2017; Acts 2023, c. 567, § 1, eff. July 1, 2023.
Formerly Art. 56, §§ 326, 327.
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.
