May 26, 2004

The Honorable Michael E. Busch
Speaker of the House
State House
Annapolis, MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 1096 - Mortgage Lenders - Sole Proprietors - Qualifications for Licensure.

This bill authorizes the Commissioner of Financial Regulation to issue a mortgage lender license to an applicant who is a sole proprietor and who does not meet the 3-year experience requirement under specified circumstances; specifying the conditions under which a sole proprietor may be licensed under the Act; prohibiting a sole proprietor who is licensed under the Act from aiding or assisting a borrower to obtain a loan from a financial institution other than the institution identified in the license application.

Senate Bill 643, which was passed by the General Assembly and signed by me on May 26, 2004, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 1096.

Very truly yours,
Robert L. Ehrlich, Jr.