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ROBERT L. EHRLICH, JR., Governor Ch. 132
SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2005.
Approved April 26, 2005.
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CHAPTER 132
(Senate Bill 159)
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AN ACT concerning
Commissioner of Financial Regulation - Mortgage Lenders - Licensing of
Federally Approved Seller-Servicers
FOR the purpose of repealing an exemption from licensure by the Commissioner of
Financial Regulation for mortgage lenders that are federally approved
seller-servicers; expanding a certain exemption from certain record keeping
requirements; making certain conforming changes; repealing a certain
definition; allowing federally approved seller-servicers that do not have a
mortgage lender license to continue to service mortgage loans until a certain
time under certain circumstances; and generally relating to mortgage lenders.
BY repealing
Article - Financial Institutions
Section 11-501(c) and 11-522
Annotated Code of Maryland
(2003 Replacement Volume and 2004 Supplement)
BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 11-501(k), 11-504, 11-509, 11-513, and 12-902
Annotated Code of Maryland
(2003 Replacement Volume and 2004 Supplement)
BY renumbering
Article - Financial Institutions
Section 11-501(d) through (o), respectively
to be Section 11-501(c) through (n), respectively
Annotated Code of Maryland
(2003 Replacement Volume and 2004 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
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- 933 -
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