About Statutes

This page accesses the Code of Maryland (Statutes) and the Maryland Municipal Charters and Resolutions as compiled and maintained by the Department of Legislative Services.

The Code is arranged by and organized into “Articles” (e.g. Transportation Article), which are further subdivided into “titles”, “subtitles”, “sections”, “subsections”, “paragraphs”, subparagraphs”, etc.

Note that the “official” compilation of the laws (Chapters) enacted at each session of the General Assembly is published by the State as the “Laws of Maryland”, commonly referred to as the “Session Laws”. The Session Laws for each session are compiled chronologically by chapter number and serve as the source law from which the statutes accessed here are derived.

While the “Laws of Maryland” (Session Laws) constitute the official laws of the State, this Code and the annotated versions noted below are accepted as “evidence” of the law in all State courts and by all public offices and officials (See § 10-201 of the Courts & Judicial Proceedings Article). However, in the event of a conflict between the Code and the Session Laws, the Session Laws prevail.

Note: Annotated versions of the Code, published by LexisNexis and West, are available in book and online formats. These Annotated Codes include references to case law, related citations, and explanatory notations.

The Municipal Charters are updated each year by incorporating all charter resolutions received by the Department through May 31 of that year. Individual Municipal Resolutions are published to the General Assembly website as they are received by the Department.

Statute Text

Article - Financial Institutions
(a)   Whether or not the person maintains an office in this State, a person may not provide debt management services to consumers unless the person:
(1)   Is licensed by the Commissioner under this subtitle; or
(2)   Is exempt from licensing under this subtitle.
(b)   A separate license is required for the principal executive office of the license applicant or licensee and each branch location.
(c)   During the time period established by the Commissioner under subsection (d) of this section, each licensee shall:
(1)   Obtain and maintain a valid unique identifier issued by NMLS when an account is created with NMLS;
(2)   Transfer licensing information to NMLS; and
(3)   Pay to the Commissioner a license extension fee calculated in accordance with subsection (d)(5) of this section.
(d)    (1)   The Commissioner shall establish a time period that is not less than 2 months within which a licensee must transfer licensing information to NMLS.
(2)   The time period that the Commissioner establishes under this subsection shall begin on or after July 1, 2017.
(3)   At least 30 days before the transfer period begins, the Commissioner shall:
(i)   Notify all licensees of the transfer period; and
(ii)   Provide instructions for the transfer of licensing information to NMLS.
(4)   For each licensee that complies with subsection (c) of this section, the term of the licensee’s license shall extend to December 31 of the year in which the license otherwise would have expired.
(5)   The license extension fee required under subsection (c)(3) of this section is nonrefundable and, based on the annual license fee, shall be prorated to the number of days between the date the license otherwise would have expired and December 31 of the same year.
(e)   Subject to subsection (c) of this section, an applicant for an initial license or a license renewal shall apply for the initial license or license renewal through NMLS:
(1)   On or after July 1, 2017; or
(2)   If the Commissioner has not joined NMLS with respect to persons required to be licensed under this subtitle as of July 1, 2017, on or after the date that the Commissioner joins, as specified by the Commissioner by public notice.