<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="12-919" title_number="12" title_name="Miscellaneous Institutions and Activities" subtitle_number="9" subtitle_name="Maryland Debt Management Services Act">
  <level label="a">
    <text>A licensee shall provide to each consumer with whom the licensee has a debt management services agreement a written accounting of:</text>
    <level label="1">
      <text>The amount of funds received from the consumer for payment to the consumer’s creditors since the last report; and</text>
    </level>
    <level label="2">
      <text>The amounts and dates of disbursements made to each creditor of the consumer since the last report.</text>
    </level>
  </level>
  <level label="b">
    <text>A licensee shall provide the accounting required under subsection (a) of this section:</text>
    <level label="1">
      <text>At least once during each calendar quarter; and</text>
    </level>
    <level label="2">
      <text>On cancellation or termination of the debt management services agreement.</text>
    </level>
  </level>
</section>
