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LAWS OF MARYLAND

Ch. 33

(6) A LICENSEE UNDER THE MARYLAND SECONDARY
MORTGAGE LOAN LAW.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §
61A(d).

As to licensees under the Maryland Consumer Loan
Law and the Maryland Secondary Mortgage Loan Law,
see, respectively, Title 11, Subtitle 2, and
Title 12, Subtitle 3 of this article.

12-512. PENALTY.

ANY PERSON WHO WILLFULLY VIOLATES ANY PROVISION OF §
12-503 {"LICENSE REQUIRED"} OR § 12-505 {"SCOPE OF LICENSE;
ADDITIONAL LICENSES"} OF THIS SUBTITLE IS GUILTY OF A
MISDEMEANOR AND ON CONVICTION IS SUBJECT TO A FINE NOT
EXCEEDING $1,000 OR IMPRISONMENT NOT EXCEEDING 6 MONTHS OR
BOTH.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §
61A(e).

The specific references to §§ 12-503 and 12-505
of this subtitle are substituted for the
nonspecific "trading or acting ... without prior
registration" to clarify that, even if a person
is licensed, the person may be in violation of
this subtitle if acting as a mortgage banker or
mortgage broker at a place of business that is
not specified on the license.

The present reference to "firm, partnership,
corporation or association" is deleted as
unnecessary in light of the definition of
"person" in § 1—101 of this article.

GENERAL REVISOR'S NOTE:

As to the possible termination of the powers and duties
of the Bank Commissioner under this subtitle, see § 2-401 of
this article.

SUBTITLE 6. SAFE-DEPOSIT COMPANIES.

12-601. DEFINITIONS.

(A) IN GENERAL.

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

REVISOR'S NOTE: This subsection is new language used as
the standard introductory language to a