HARRY HUGHES, Governor

551

(B) SEPARATE LICENSES REQUIRED.

(1)   A SEPARATE LICENSE IS REQUIRED FOR EACH
PLACE OF BUSINESS WHERE A PERSON MAKES A LOAN OR TRANSACTS
ANY BUSINESS UNDER THE MARYLAND CONSUMER LOAN LAW.

(2)   A PERSON MAY NOT:

(I)       RECEIVE ANY APPLICATION FOR A LOAN OR
ALLOW ANY NOTE OR CONTRACT FOR A LOAN TO BE SIGNED AT ANY
PLACE OF BUSINESS FOR WHICH THE PERSON DOES NOT HAVE A
LICENSE;

(II)      CONDUCT ANY BUSINESS UNDER THE
MARYLAND CONSUMER LOAN LAW UNDER A NAME DIFFERENT FROM THE
NAME THAT APPEARS ON THE PERSON'S LICENSE; OR

(III)       EVADE THE APPLICATION OF THIS
SECTION BY ANY DEVICE, SUBTERFUGE, OR PRETENSE OF ANY KIND.

(3)       THIS SUBSECTION DOES NOT PROHIBIT A LICENSEE
FROM ACCOMMODATING A BORROWER, AT THE BORROWER'S REQUEST, BY
MAKING A LOAN BY MAIL BECAUSE OF THE BORROWER'S SICKNESS OR
HOURS OF EMPLOYMENT OR FOR SIMILAR REASONS.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
sentence of Art. 58A, § 1(a) and from Art. 58A,
§§ 1(b) and 9(a) and (c).

Subsection (a) of this section is new language
substituted for the statement that an unlicensed
person may not "make any loan of money, credit,
goods, or things in action and charge, contract
for, or receive any interest, charges, discounts,
or other consideration authorized by this
article,...". This substitution reflects the
definition of "loan" in § 11-201 of this subtitle
and is in accordance with the apparent intent of
the present law.

11-205. QUALIFICATIONS OF APPLICANTS.

TO QUALIFY FOR A LICENSE, AN APPLICANT SHALL SATISFY
THE COMMISSIONER THAT:

(1)       THE APPLICANT HAS AT LEAST $20,000 IN LIQUID
ASSETS AVAILABLE TO BE USED IN THE BUSINESS TO BE COVERED BY
THE LICENSE;

(2)       THE BUSINESS WILL PROMOTE THE CONVENIENCE
AND ADVANTAGE OF THE COMMUNITY IN WHICH THE PLACE OF
BUSINESS WILL BE LOCATED; AND

(3)       THE APPLICANT HAS OR, IF THE APPLICANT IS

NOT AN INDIVIDUAL, THE OWNERS, OFFICERS, DIRECTORS, OR

MEMBERS HAVE SUFFICIENT EXPERIENCE, CHARACTER, FINANCIAL