# Financial Institutions (GFI)

## Title 12. Miscellaneous Institutions and Activities

### Subtitle 4. Maryland Money Transmission Act

#### Section 12-404

(a) All revenue received for the licensing and assessment of money transmitters under this subtitle and any other fee, examination assessment, or revenue received by the Commissioner under this subtitle shall be:

  (1) Credited to the Non-Depository Special Fund established under Sec. 2-120 of this article; and

  (2) Used in accordance with Sec. 2-120(d) of this article.

(b) Notwithstanding subsection (a) of this section, the Commissioner shall pay all fines and penalties collected by the Commissioner under this subtitle into the General Fund of the State.

(c) Subject to Sec. 2-120(h) of this article, the Commissioner may impose an annual assessment on any licensee under this subtitle.

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