Ch. 375

2003 LAWS OF MARYLAND

certain funds received by the licensee; requiring a certain agent of a licensee to
maintain a certain surety bond in a certain amount; prohibiting a licensee from
imposing certain fees or other charges or receiving certain funds or payments
except under certain circumstances; requiring a licensee to disclose certain
services and charges to a consumer; prohibiting a licensee from requiring a
voluntary contribution; authorizing a licensee to accept a voluntary contribution
under certain circumstances; providing that a debt management services
agreement shall be void and the licensee shall return to the consumer certain
fees, charges, funds, or payments under certain circumstances; providing a
specific right of modification or rescission for a consumer and notification
within a certain period of time; requiring a licensee to provide certain
accountings to consumers at certain times; establishing certain prohibited acts;
requiring a licensee certain persons to make and preserve certain books,
accounts, and records for a certain period of time and in a certain location and
form; providing that certain government officials may disclose certain
information only in accordance with certain provisions of law; requiring a
licensee to include in any advertisement the licensee's debt management
services license number; authorizing the Commissioner to investigate certain
persons for certain purposes and to conduct certain on-site examinations of a
licensee; authorizing the Commissioner to deny a license to an applicant,
reprimand a licensee, or suspend or revoke the license of a licensee under
certain circumstances; requiring the Commissioner to deny a license to an
applicant and suspend or revoke the license of a licensee under certain
circumstances; requiring the Commissioner to give an applicant or licensee an
opportunity for a hearing under certain circumstances; authorizing the
Commissioner to issue certain orders, impose certain civil penalties, and file
certain petitions to enforce this Act; providing certain criminal penalties for
certain violations of this Act; providing that a consumer may bring a civil action
to recover for damages caused by a certain violation; establishing a certain short
title; establishing the scope of this Act; defining certain terms; repealing certain
provisions of law governing the business of debt adjusting; allowing certain
organizations providing debt management services in the State on the effective
date of this Act to continue to provide debt management services without being
licensed until a certain time under certain circumstances; establishing the
expiration date of a license issued within a certain time period; requiring the
Commissioner to report on certain information and recommendations to certain
committees of the General Assembly on or before a certain date; establishing the
debt Management Services Fund as an account within a certain fund, subject to
a certain contingency; and generally relating to the Maryland Debt
Management Services Act.

BY repealing

Article - Commercial Law

Section 14-1316

Annotated Code of Maryland

(2000 Replacement Volume and 2002 Supplement)

BY adding to

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