WILLIAM DONALD SCHAEFER, Governor
(1986 Replacement Volume and 1988 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

12-305.

(a)  To qualify for a license, an applicant shall[:

(1)  Have been a resident of this State for at least 6
months before applying for the license; and

(2)  Satisfy] SATISFY the Commissioner that the
applicant has sufficient business experience, moral character,
financial responsibility, and general fitness to:

((i)] (1) Command the confidence of the public;
and

[(ii)] (2) Warrant the belief that the business
will be operated lawfully, honestly, fairly, and efficiently.

(b)  The Commissioner may deny an application for a license
to any person who has committed any act that would be a ground
for the suspension or revocation of a license under § 12-316 of
this subtitle OR § 12-508 OF THIS TITLE.

12-312.

(A)  Each licensee shall keep and make available to the
Commissioner at the licensee's place of business any books and
records that the Commissioner, by rule or regulation, requires to
enable the Commissioner to enforce the Maryland Secondary
Mortgage Loan Law.

(B)  A LICENSEE THAT MAINTAINS, AT A LOCATION OUTSIDE OF
THIS STATE, ITS PLACE OF BUSINESS, ACCOUNTS, RECORDS, DOCUMENTS,
FILES, INFORMATION, OR OTHER MATTERS SUBJECT TO EXAMINATION BY
THE COMMISSIONER UNDER § 12-314 OF THIS SUBTITLE, IN ADDITION TO
THE PER DIEM FEE PROVIDED BY § 12-314(D) OF THIS SUBTITLE, SHALL
PAY TO THE COMMISSIONER THE TRAVEL EXPENSES, A LIVING EXPENSE
ALLOWANCE, AND A DAILY MEAL EXPENSE ALLOWANCE TO THE EXTENT
INCURRED ON ACCOUNT OF THE EXAMINATION, ALL AT REASONABLE RATES
AS ESTABLISHED BY THE COMMISSIONER.

12-508.

(a) Subject to the hearing provisions of § 12-509 of this
subtitle, the Bank Commissioner may:

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