Home Table of Contents

§ 12-408. Criminal history background checks of applicants or licensees

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 4. Maryland Money Transmission Act
Effective: July 1, 2017
MD Code, Financial Institutions, § 12-408
§ 12-408. Criminal history background checks of applicants or licensees
Currentness
Corporations with securities exempt from registration
(a) This section does not apply to any corporation the securities of which are exempt from registration under § 11-601(8) or (12) of the Corporations and Associations Article or any wholly owned subsidiary of the corporation.
Information provided concerning identity of applicants
(b) In connection with an initial application for a license under § 12-407 of this subtitle, and at any other time that the Commissioner requests, an applicant or licensee shall provide to NMLS information concerning the applicant's identity, including:
(1) Fingerprints for submission to the Federal Bureau of Investigation, and any other governmental agency or entity authorized to receive this information for a state, a national, or an international criminal history background check;
(2) In the case of a sole proprietorship, personal history and experience in a form prescribed by NMLS, including the submission of authorization for NMLS and the Commissioner to obtain:
(i) An independent credit report from a consumer reporting agency described in the federal Fair Credit Reporting Act, 15 U.S.C. § 1681a(p); and
(ii) Information related to any administrative, civil, or criminal findings by any governmental jurisdiction; and
(3) In the case of a corporation or another business entity:
(i) Business history in a form prescribed by NMLS, including:
1. The submission of a business credit report for the applicant that is no older than 3 months before the date of the application; and
2. Information related to any administrative, civil, or criminal findings by any governmental jurisdiction; and
(ii) For each control person, personal history in a form prescribed by NMLS.
Use of NMLS as channeling agent
(c) Subject to § 12-408.1 of this subtitle, to implement this subtitle, the Commissioner may use NMLS as a channeling agent to request information from and distribute information to the Department of Justice, any other governmental agency with subject matter jurisdiction, and any other state licensing entity that has money transmitters licensed or registered with NMLS.
Processing or other fees
(d) An applicant or a licensee who is required to provide fingerprints under subsection (b) of this section shall pay the processing or other fees required by the Federal Bureau of Investigation and NMLS.
Requests for state, national, or international criminal history records
(e) The Commissioner may request from the Federal Bureau of Investigation or NMLS, as applicable, for each person who is required to provide fingerprints under subsection (b) of this section:
(1)(i) The state, national, or international criminal history records of the person; and
(ii) A printed statement listing any conviction or other disposition of, and any plea of guilty or nolo contendere to, any criminal charge;
(2)(i) An update of the initial criminal history records check or criminal history background check of the person; and
(ii) A revised statement listing any conviction or other disposition of, and any plea of guilty or nolo contendere to, any criminal charge occurring after the date of the initial criminal history records check or criminal history background check; and
(3) An acknowledged receipt of the application for a criminal history records check or criminal history background check of the person.
Executive officers, general partners, or managing members of corporation
(f) If the applicant or licensee is a corporation or another business entity, the fingerprinting and criminal history records check requirements under subsection (b) of this section shall apply to an executive officer, a general partner, or a managing member of, or an individual serving in a similar capacity with respect to, the corporation or other business entity, as requested by the Commissioner.

Credits

Added by Acts 2002, c. 539, § 1, eff. Oct. 1, 2002. Amended by Acts 2012, c. 78, § 1, eff. June 1, 2012; Acts 2017, c. 253, § 1, eff. July 1, 2017.
MD Code, Financial Institutions, § 12-408, MD FIN INST § 12-408
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.
End of Document