Ch. 374

2003 LAWS OF MARYLAND

(III) COMMAND THE CONFIDENCE OF THE PUBLIC; AND

(4) THE APPLICANT HAS A NET WORTH COMPUTED ACCORDING TO
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES OF AT LEAST $50,000, PLUS AN
ADDITIONAL NET WORTH OF $10,000 FOR EACH LOCATION AT WHICH DEBT
MANAGEMENT SERVICES WILL BE PROVIDED TO THE PUBLIC CONSUMERS, UP TO A
MAXIMUM OF $500,000 AS PROVIDED IN SUBSECTION (B) OF THIS SECTION.

(B) THE COMMISSIONER MAY REQUIRE A NET WORTH OF UP TO $500,000,
SUBJECT TO A CONSIDERATION OF THE FOLLOWING:

(1)      THE NATURE AND VOLUME OF THE BUSINESS OR PROPOSED
BUSINESS OF THE APPLICANT;

(2)      THE AMOUNT, NATURE, QUALITY, AND LIQUIDITY OF THE ASSETS OF
THE APPLICANT;

(3)      THE AMOUNT AND NATURE OF THE LIABILITIES, INCLUDING
CONTINGENT LIABILITIES, OF THE APPLICANT;

(4)      THE HISTORY OF AND PROSPECTS FOR THE APPLICANT TO EARN
AND RETAIN INCOME;

(5)      THE QUALITY OF THE OPERATIONS OF THE APPLICANT;

(6)      THE QUALITY OF THE MANAGEMENT OF THE APPLICANT;

(7)      THE NATURE AND QUALITY OF THE PERSON THAT HAS CONTROL OF
THE APPLICANT; AND

(8)      ANY OTHER FACTOR THAT THE COMMISSIONER CONSIDERS
RELEVANT.

12-908.

(A)     TO APPLY FOR A LICENSE, AN APPLICANT SHALL SUBMIT TO THE
COMMISSIONER AN APPLICATION ON THE FORM THAT THE COMMISSIONER
PROVIDES.

(B)     THE APPLICATION SHALL INCLUDE:

(1)      THE APPLICANT'S NAME, BUSINESS ADDRESS, TELEPHONE NUMBER,
ELECTRONIC MAIL ADDRESS, IF ANY, AND WEBSITE ADDRESS, IF ANY;

(2)      THE ADDRESS OF EACH LOCATION IN THE STATE AT WHICH THE
APPLICANT WILL PROVIDE DEBT MANAGEMENT SERVICES;

(3)     THE NAME AND ADDRESS OF EACH OWNER, OFFICER, DIRECTOR,
AND PRINCIPAL OF THE APPLICANT;

(4)      THE NAME, ADDRESS, AND TELEPHONE NUMBER OF THE
APPLICANT'S RESIDENT AGENT IN THE STATE;

(5)      A DESCRIPTION OF THE OWNERSHIP INTEREST OF ANY OFFICER,
DIRECTOR, AGENT, OR EMPLOYEE OF THE APPLICANT IN ANY AFFILIATE OR

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