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Statutes Text

Article - Business Regulation


    (a)    An applicant for a license shall:

        (1)    submit a completed application in the form, and in accordance with the process, that the Board requires;

        (2)    pay to the Board:

            (i)    a nonrefundable application fee in the amount set by the Board; and

            (ii)    a nonrefundable investigation fee in the amount set by the Board; and

        (3)    provide all the information that the Board requests.

    (b)    An application shall be made under oath and shall include:

        (1)    the applicant’s name, principal executive office address, telephone number, e–mail address, and Web site addresses, if any;

        (2)    the address of each branch location, if any;

        (3)    the federal employer identification number or Social Security number of the applicant, as applicable;

        (4)    the state of formation and the date of formation of the applicant if the applicant is a business entity;

        (5)    the name and residence address of each control person;

        (6)    the name and address of the principal contact for consumer complaints;

        (7)    the name, address, and telephone number of the applicant’s resident agent; and

        (8)    any other information that the Board requests.

    (c)    If an applicant wishes to do business as a collection agency at a branch location, the applicant shall submit a separate application and pay a separate application fee and investigation fee for each branch location.

    (d)    In addition to any other requirement for licensure under this subtitle, an applicant for a license shall file with the Board a surety bond as required under § 7–304 of this subtitle.

    (e)    The Board shall issue a license to each applicant who meets the requirements of this subtitle.

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