# Financial Institutions (GFI)

## Title 12. Miscellaneous Institutions and Activities

### Subtitle 4. Maryland Money Transmission Act

#### Section 12-422

(a)

  (1) A licensee may surrender a license through NMLS in accordance with the process that the Commissioner requires.

  (2) The statement shall provide a listing, by identifying number, face amount, and place of issue, of all outstanding money transmissions, and the reasons for the license surrender.

(b) The surrender of a license does not:

  (1) Affect any civil or criminal liability of the licensee for acts committed before the license is surrendered;

  (2) Affect the surety device filed by the licensee; or

  (3) Entitle the licensee to the return of any part of any fee.

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