- A. The application documents shall describe any lien that encumbers 1 percent or more of the applicant's assets or 1 percent or more of the assets of a person with an ownership interest in the applicant of 25 percent or more.
B. The disclosure for each lien listed under §A of this document shall include:
- (1) The name and address of the lender or secured party;
- (2) The amount of the indebtedness;
- (3) The terms of the lien; and
- (4) A copy of each document executed with respect to the lien.
Authority: Business Regulation Article, §11-210, Annotated Code of Maryland
Effective date: December 13, 1999 (26:25 Md. R. 1897)