Md. Code Ann., Fin. Inst. § 11-303
License required to engage in business of installment loans or credit services
Effective Oct 1, 2021Added as Financial Institutions § 11-302 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1982, c. 753; Acts 1983, c. 143, § 1; Acts 1991, c. 628; Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 11-303 by Acts 2021, c. 101, § 1, eff. Oct. 1, 2021. Amended by Acts 2021, c. 101, § 2, eff. Oct. 1, 2021.State of Maryland
- (1) Engage in the business of making installment loans;
- (2) Make more than 5 installment loans a year; or
- (3) Engage in the business of a credit services business as defined under Title 14, Subtitle 19 of the Commercial Law Article.
Unless the person is licensed by the Commissioner, a person may not:
Added as Financial Institutions § 11-302 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1982, c. 753; Acts 1983, c. 143, § 1; Acts 1991, c. 628; Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 11-303 by Acts 2021, c. 101, § 1, eff. Oct. 1, 2021. Amended by Acts 2021, c. 101, § 2, eff. Oct. 1, 2021.
Formerly Art. 49, § 5.