Ch. 476

LAWS OF MARYLAND

(4) FILES A BOND OR BOND CONTINUATION CERTIFICATE FOR
THE AMOUNT REQUIRED UNDER § 11-508 OF THIS SUBTITLE.

(C) IF A LICENSE IS ISSUED FOR LESS THAN A FULL YEAR, 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 YEAR.

11-512.

(A)  A LICENSEE MAY NOT CHANGE THE PLACE OF BUSINESS FOR
WHICH A LICENSE IS ISSUED UNLESS THE LICENSEE:

(1)  NOTIFIES THE COMMISSIONER IN WRITING OF THE
PROPOSED CHANGE; AND

(2)  RECEIVES THE WRITTEN CONSENT OF THE COMMISSIONER.

(B)  NOTWITHSTANDING SUBSECTION (A)(2) OF THIS SECTION, IF
THE COMMISSIONER DOES NOT APPROVE OR DISAPPROVE OF THE PROPOSED
CHANGE OF PLACE OF BUSINESS WITHIN 30 DAYS OF THE MAILING OF THE
NOTICE REQUIRED UNDER SUBSECTION (A)(1) OF THIS SECTION, THE
PROPOSED CHANGE OF PLACE OF BUSINESS SHALL BE DEEMED APPROVED.

11-513.

(A)  EACH LICENSEE SHALL KEEP AND MAKE AVAILABLE TO THE
COMMISSIONER AT THE LICENSEE'S PLACE OF BUSINESS ANY BOOKS AND
RECORDS THAT THE COMMISSIONER, BY RULE OR REGULATION, REQUIRES TO
ENABLE THE COMMISSIONER TO ENFORCE:

(1)  THIS SUBTITLE;

(2)  ANY RULE OR REGULATION ADOPTED UNDER THIS
SUBTITLE; AND

(3)  ANY OTHER PROVISION REGULATING THE APPLICATION,
MAKING, BROKERING, OR SERVICING OF MORTGAGE LOANS UNDER TITLES 12
THROUGH 14 OF THE COMMERCIAL LAW ARTICLE.

(B)  SUBJECT TO APPROVAL BY THE COMMISSIONER, NOTHING IN
THIS SECTION IS TO BE CONSTRUED TO PROHIBIT A LICENSEE FROM
MAINTAINING DUPLICATE RECORDS OR ELECTRONIC EQUIVALENTS AT THE
LICENSEE'S PLACE OF BUSINESS.

(C)  ON APPROVAL OF THE COMMISSIONER, A LICENSEE NEED NOT
KEEP AT THE LICENSEE'S PLACE OF BUSINESS ANY BOOKS AND RECORDS
OTHERWISE REQUIRED BY THE COMMISSIONER UNDER SUBSECTION (A) OF
THIS SECTION IF THE LICENSEE:

(1) IS A FEDERALLY APPROVED SELLER-SERVICER : ;

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