§ 12–111
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 12-111 (2026)
Title 12. Miscellaneous Institutions and Activities
Subtitle 1. Check Cashing Services
§ 12–111LinkCopy Citation
(a)
An initial license term shall:
(1)
Begin on the date the license is issued; and
(2)
Expire on December 31 of the year:
(i)
In which the license is issued, if the license is issued before November 1; or
(ii)
Immediately following the year in which the license is issued, if the license is issued on or after November 1.
(b)
On or after November 1 of the year a license expires, the license may be renewed for an additional 1–year term, if the licensee:
(1)
Otherwise is entitled to be licensed;
(2)
Pays to the Commissioner a renewal fee of $500; and
(3)
Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.
(c)
The Commissioner shall determine if the requirements of § 12–106 of this subtitle to qualify for a license continue to apply.
(d)
To the extent required or permitted by NMLS, the Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.
(e)
A licensee may not renew a license unless, before the submission of the license renewal application, the licensee has transferred the licensee’s licensing information to NMLS in accordance with § 12–105(c) of this subtitle.