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ROBERT L. EHRLICH, JR., Governor SB. 660
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(I) A RENEWAL APPLICATION ON THE FORM THAT THE
COMMISSIONER REQUIRES; AND
(II) SATISFACTORY EVIDENCE OF COMPLIANCE WITH ANY
CONTINUING EDUCATION REQUIREMENTS SET BY REGULATIONS ADOPTED BY THE
COMMISSIONER
(C) IF A LICENSE IS SURRENDERED VOLUNTARILY OR IS SUSPENDED OR
REVOKED, THE COMMISSIONER MAY NOT REFUND ANY PART OF THE LICENSE FEE
REGARDLESS OF THE TIME REMAINING IN THE LICENSE TERM.
(D) NOTWITHSTANDING SUBSECTIONS (A) AND (B) OF THIS SECTION, THE
COMMISSIONER MAY DETERMINE THAT A LICENSE LICENSES ISSUED UNDER THIS
SUBTITLE SHALL EXPIRE ON A STAGGERED BASIS.
11-610.
(A) THERE IS A MORTGAGE LENDER-ORIGINATOR FUND THAT CONSISTS OF:
(1) REVENUE RECEIVED FOR THE LICENSING OF INDIVIDUALS UNDER
THIS SUBTITLE;
(2) REVENUE RECEIVED FOR THE LICENSING OF INDIVIDUALS PERSONS
UNDER SUBTITLE 5 OF THIS TITLE;
(3) INCOME FROM THE INVESTMENTS THAT THE STATE TREASURER
MAKES FOR THE FUND; AND
(4) ANY OTHER FEE, EXAMINATION ASSESSMENT, OR REVENUE
RECEIVED BY THE COMMISSIONER UNDER SUBTITLE 5 OF THIS TITLE AND THIS
SUBTITLE.
(B) NOTWITHSTANDING SUBSECTION (A) OF THIS SECTION, THE
COMMISSIONER SHALL PAY ALL FINES AND PENALTIES COLLECTED BY THE
COMMISSIONER UNDER SUBTITLE 5 OF THIS TITLE AND THIS SUBTITLE INTO THE
GENERAL FUND OF THE STATE.
(C) THE PURPOSE OF THE FUND IS TO PAY THE COSTS AND EXPENSES
INCURRED BY THE COMMISSIONER THAT ARE RELATED TO THE REGULATION OF
MORTGAGE LENDING AND MORTGAGE ORIGINATION, INCLUDING:
(1) EXPENDITURES AUTHORIZED UNDER SUBTITLE 5 OF THIS TITLE OR
THIS SUBTITLE; AND
(2) ANY OTHER EXPENSE AUTHORIZED IN THE STATE BUDGET.
(D) (1) THE ANNUAL STATE BUDGET SHALL INCLUDE THE COSTS AND
EXPENSES OF THE COMMISSIONER RELATING TO THE REGULATION OF MORTGAGE
LENDING AND MORTGAGE ORIGINATION.
(2) ANY EXPENDITURES FROM THE FUND TO COVER COSTS AND
EXPENSES OF THE COMMISSIONER MAY BE MADE ONLY:
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- 3759 -
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