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Statutes Text

Article - Financial Institutions


    (a)    The Commissioner shall include on each license:

        (1)    The name of the licensee;

        (2)    The address of the location at which the business is to be conducted; and

        (3)    The license number and unique identifier of the licensee.

    (b)    A license authorizes the licensee to provide debt management services.

    (c)    A license may not be transferred, assigned, or pledged.

    (d)    (1)    If the licensee has an office in the State, the licensee shall prominently display the license in a location that is open to the public and at which the licensee engages in the business of providing debt management services.

        (2)    If the licensee does not maintain an office in the State, the licensee shall maintain the license in the licensee’s headquarters.

    (e)    A licensee that offers or provides debt management services through the Internet shall include the following notice on its website:

    “The Commissioner of Financial Regulation for the State of Maryland will accept any questions and complaints from Maryland residents regarding (name and license number of the debt management services provider) at (address of Commissioner), phone (toll–free number of the Commissioner)”.

    (f)    Only one location may be maintained under any one license.

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