PARRIS N. GLENDENING, Governor

Ch. 588

(B) (1) TO QUALIFY FOR A LICENSE, THE APPLICANT SHALL SATISFY THE
COMMISSIONER THAT THE APPLICANT HAS AT LEAST 3 YEARS OF EXPERIENCE IN
THE MORTGAGE LENDING BUSINESS.

(2)     IF THE APPLICANT IS A SOLE PROPRIETOR, THE APPLICANT SHALL
HAVE THE REQUIRED EXPERIENCE.

(3)     IF THE APPLICANT IS A JOINT VENTURE, OR GENERAL OR LIMITED
PARTNERSHIP, AT LEAST ONE OF THE COVENTURERS OR GENERAL PARTNERS
SHALL HAVE THE REQUIRED EXPERIENCE.

(4)     IF THE APPLICANT IS A BUSINESS ENTITY OF ANY OTHER KIND,
TYPE, OR CLASSIFICATION, AT LEAST ONE OF THE PRINCIPAL OFFICERS OR
MEMBERS SHALL HAVE THE REQUIRED EXPERIENCE.

[(b)] (C) 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.

11-506.1.

(A)    THIS SECTION SHALL NOT APPLY TO ANY CORPORATION THE SECURITIES
OF WHICH ARE EXEMPT FROM REGISTRATION UNDER § 11-601(8) OR (12) OF THE
CORPORATIONS AND ASSOCIATIONS ARTICLE.

(B)     IN CONNECTION WITH AN INITIAL APPLICATION AND AT ANY OTHER
TIME THE COMMISSIONER REQUESTS, EACH APPLICANT OR LICENSEE SHALL
PROVIDE FINGERPRINTS FOR USE BY THE FEDERAL BUREAU OF INVESTIGATION
AND THE CRIMINAL JUSTICE INFORMATION SYSTEM CENTRAL REPOSITORY OF THE
DEPARTMENT OF PUBLIC SAFETY AND CORRECTIONAL SERVICES TO CONDUCT
CRIMINAL HISTORY RECORDS CHECKS.

(C)     ANY APPLICANT OR LICENSEE REQUIRED BY THIS SECTION TO PROVIDE
FINGERPRINTS, SHALL PAY ANY PROCESSING OR OTHER FEE REQUIRED BY THE
FEDERAL BUREAU OF INVESTIGATION OR THE CRIMINAL JUSTICE INFORMATION
SYSTEM CENTRAL REPOSITORY OF THE DEPARTMENT OF PUBLIC SAFETY AND
CORRECTIONAL SERVICES.

(D)    IF THE APPLICANT OR LICENSEE IS A CORPORATION, THE
FINGERPRINTING AND CRIMINAL HISTORY RECORDS CHECK REQUIREMENTS SHALL
APPLY TO THE PRESIDENT AND TO ANY OTHER OFFICER, DIRECTOR, OR PRINCIPAL
OF THE CORPORATION AS REQUESTED BY THE COMMISSIONER.

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.

(2) The applicant shall comply with all conditions and provisions of the
application for licensure AND BE ISSUED A LICENSE BEFORE ACTING AS A MORTGAGE
LENDER AT A PARTICULAR LOCATION.

- 3243 -