§ 7–302
Statutes in effect as of October 1, 2026.
Md. Code Ann., Bus. Reg. § 7-302 (2026)
Title 7. Collection Agencies
Subtitle 3. Licenses
§ 7–302LinkCopy Citation
(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 legal name, any trade name used by the applicant in accordance with § 2–121 of the Financial Institutions Article, and the applicant’s principal executive office address, telephone number, e–mail address, and Web site addresses, if any;
(2)
the address of each additional location, if any, that:
(i)
the general public may reasonably view as a location that does business as a collection agency, including any location that investigates customer complaints or directly communicates with customers verbally, electronically, or in writing;
(ii)
houses any core operational infrastructure or technology systems;
(iii)
conducts any core management, information security and technology, risk and compliance, or finance functions; or
(iv)
is otherwise required to be listed in NMLS by regulation adopted under this title;
(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)
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.
(d)
The Board shall issue a license to each applicant who meets the requirements of this subtitle.