<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="12-913" title_number="12" title_name="Miscellaneous Institutions and Activities" subtitle_number="9" subtitle_name="Maryland Debt Management Services Act">
  <level label="a">
    <level label="1">
      <text>A licensee may surrender a license through NMLS in accordance with the process that the Commissioner requires.</text>
    </level>
    <level label="2">
      <text>With the surrender of a license, a licensee shall provide:</text>
      <level label="i">
        <text>The reason for the license surrender;</text>
      </level>
      <level label="ii">
        <text>For each consumer for whom the licensee is providing debt management services, the following information:</text>
        <level label="1">
          <text>The name of the consumer;</text>
        </level>
        <level label="2">
          <text>The total amount of funds held by the licensee for distribution to the consumer’s creditors; and</text>
        </level>
        <level label="3">
          <text>The name of each creditor of the consumer that is receiving payments from the licensee for debts owed by the consumer to the creditor, and the outstanding balance owed to each creditor.</text>
        </level>
      </level>
    </level>
  </level>
  <level label="b">
    <text>The surrender of a license does not:</text>
    <level label="1">
      <text>Affect any administrative, civil, or criminal liability of the licensee for acts committed before the license is surrendered;</text>
    </level>
    <level label="2">
      <text>Affect the surety bond required under § 12–914 of this subtitle; or</text>
    </level>
    <level label="3">
      <text>Entitle the licensee to the return of any fee paid to the Commissioner under § 12–904 of this subtitle.</text>
    </level>
  </level>
</section>
