WILLIAM DONALD SCHAEFER, Governor Ch. 476

(II) A TITLE INSURANCE COMPANY, A TITLE
COMPANY, OR AN ATTORNEY FOR A TITLE INSURANCE COMPANY OR A TITLE
COMPANY.

(2)  NOTWITHSTANDING PARAGRAPH (1) OF THIS SUBSECTION,
A LICENSEE MAY ACCEPT A LOAN APPLICATION FROM A BORROWER BY MAIL
OR TELEPHONE OR IN PERSON AT THE BORROWER'S RESIDENCE OR PLACE OF
EMPLOYMENT TO ACCOMMODATE THE BORROWER AT THE BORROWER'S REQUEST.

(3)  THE COMMISSIONER SHALL ADOPT REGULATIONS TO
ENSURE THAT THE LOAN APPLICATION PROCESS IS CONDUCTED FAIRLY AND
IN A MANNER CONSISTENT WITH THE BEST INTERESTS OF BOTH THE
BORROWER AND MORTGAGE LENDER.

(F) A LICENSE MAY BE ISSUED UNDER THIS SUBTITLE TO A
BUSINESS ENTITY WHOSE PRINCIPAL OFFICE IS LOCATED OUTSIDE THIS
STATE PROVIDED THAT THE BUSINESS ENTITY MAINTAINS A RESIDENT
AGENT WITHIN THE STATE AT ALL TIMES DURING THE TERM OF THE
LICENSE, REGARDLESS OF WHETHER:

(1)  THE BUSINESS ENTITY MAINTAINS ANY OFFICE WITHIN
THE STATE; OR

(2)  THE ACTIVITIES OF THE BUSINESS ENTITY CONSTITUTE
DOING BUSINESS OR HAVING A TAX SITUS IN THIS STATE UNDER THE
APPLICABLE PROVISIONS OF THE CORPORATIONS AND ASSOCIATIONS
ARTICLE.

11-506.

(A)  TO QUALIFY FOR A LICENSE, AN APPLICANT SHALL SATISFY
THE COMMISSIONER THAT THE APPLICANT IS OF GOOD MORAL CHARACTER
AND HAS SUFFICIENT FINANCIAL RESPONSIBILITY, BUSINESS EXPERIENCE,
AND GENERAL FITNESS TO:

(1)  ENGAGE IN BUSINESS AS A MORTGAGE LENDER;

(2)  WARRANT THE BELIEF THAT THE BUSINESS WILL BE
CONDUCTED LAWFULLY, HONESTLY, FAIRLY, AND EFFICIENTLY; AND

(3)  COMMAND THE CONFIDENCE OF THE PUBLIC.

(B)  THE COMMISSIONER MAY DENY AN APPLICATION FOR A LICENSE
TO ANY PERSON WHO HAS BEEN OFFICIALLY REPRIMANDED OR HAS
COMMITTED ANY ACT THAT WOULD BE A GROUND FOR SUSPENSION OR
REVOCATION OF A LICENSE UNDER THIS SUBTITLE.

11-507.

(A) (1) TO APPLY FOR A LICENSE, AN APPLICANT SHALL
COMPLETE, SIGN, AND SUBMIT TO THE COMMISSIONER AN APPLICATION
MADE UNDER OATH ON THE FORM THAT THE COMMISSIONER REQUIRES.

- 3057 -