§ 11–205
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 11-205 (2026)
Title 11. Consumer Credit
Subtitle 2. Consumer Loans -- Licensing Provisions
§ 11–205LinkCopy Citation
To qualify for a license, an applicant shall satisfy the Commissioner that:
(1)
The applicant has at least $20,000 in liquid assets available to be used in the business to be covered by the license;
(2)
The business will promote the convenience and advantage of the community in which the place of business will be located; and
(3)
The applicant or, if the applicant is not an individual, the owners, officers, directors, or members have sufficient experience, character, financial responsibility, and general fitness to:
(i)
Command the confidence of the public; and
(ii)
Warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently.