# Financial Institutions (GFI)

## Title 12. Miscellaneous Institutions and Activities

### Subtitle 11. Student Financing Companies

#### Section 12-1102

(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.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)