§ 12-405. License required to engage in business of money transmission
West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2021
Effective: October 1, 2021
MD Code, Financial Institutions, § 12-405
§ 12-405. License required to engage in business of money transmission
(a) A person may not engage in the business of money transmission if that person, or the person with whom that person engages in the business of money transmission, is located in the State unless that person:
(b) Each licensee or license applicant shall obtain and maintain a valid unique identifier issued by NMLS on forming an account with NMLS.
Credits
Added as Financial Institutions § 12-404 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 541, § 1, eff. July 1, 1980; Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 1997, c. 23, § 1, eff. Oct. 1, 1997. Renumbered as Financial Institutions § 12-405 by Acts 2002, c. 539, § 1, eff. Oct. 1, 2002. Amended by Acts 2002, c. 539, § 1, eff. Oct. 1, 2002; Acts 2012, c. 78, § 1, eff. June 1, 2012; Acts 2018, c. 731, § 1, eff. Oct. 1, 2018; Acts 2018, c. 732, § 3, eff. Oct. 1, 2018; Acts 2021, c. 100, § 3, eff. Oct. 1, 2021.
Formerly Art. 11, §§ 209, 211.
MD Code, Financial Institutions, § 12-405, MD FIN INST § 12-405
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.
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