§ 12–1102
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 12-1102 (2026)
Title 12. Miscellaneous Institutions and Activities
Subtitle 11. Student Financing Companies
§ 12–1102LinkCopy Citation
(a)
Beginning March 15, 2024, a student financing company shall register with the Commissioner as a student financing company before providing services in the State.
(b)
An application for registration shall include:
(1)
The student financing company’s name;
(2)
The student financing company’s address;
(3)
The name of all officers, directors, partners, and owners of controlling interests of the student financing company;
(4)
The addresses of all officers, directors, partners, and owners of controlling interests in the student financing company; and
(5)
Any other information that the Commissioner requires by regulation.
(c)
A student financing company shall renew its registration on an annual basis, and may be required to pay a fee at the time of renewal.
(d)
The Commissioner may adopt and enforce:
(1)
Registration procedures for student financing companies, which may include the use of NMLS;
(2)
Registration fees for student financing companies, which may include fees for the use of NMLS, to be paid directly by the student financing company;
(3)
Procedures and fees for renewing a student financing company’s registration, which may include fees for the renewed use of NMLS, to be paid directly by the student financing company; and
(4)
Alternate registration procedures and fees for institutions of postsecondary education that offer student financing products.