§ 11–204
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 11-204 (2026)
Title 11. Consumer Credit
Subtitle 2. Consumer Loans -- Licensing Provisions
§ 11–204LinkCopy Citation
(a)
A person may not:
(1)
Receive any application for a loan or allow any note or contract for a loan to be signed at any place of business that is not a licensed location;
(2)
Conduct any business under the Maryland Consumer Loan Law under a name different from the licensed name; or
(3)
Evade the application of this section by any device, subterfuge, or pretense of any kind.
(b)
This section does not prohibit a licensee from accommodating a borrower, at the borrower’s request, by making a loan by mail because of the borrower’s sickness or hours of employment or for similar reasons.
(c)
Notwithstanding subsections (a) and (b) of this section, for a loan that is to be secured by residential real property:
(1)
A licensee may solicit and accept an application for a loan:
(i)
By mail;
(ii)
By telephone or other electronic means; or
(iii)
At any location requested by the prospective borrower;
(2)
Except as provided in item (3) of this subsection, the loan closing shall be conducted at:
(i)
A licensed location;
(ii)
The office of an attorney representing the licensee, the borrower, the title company, or title insurer in connection with the loan; or
(iii)
The office of the title insurer or title agency performing closing services in connection with the loan; and
(3)
A licensee may conduct the loan closing at another location at the written request of the borrower or the borrower’s designee to accommodate the borrower because of the borrower’s sickness.