Ch. 375                                    2003 LAWS OF MARYLAND

(2) ANY OTHER EXPENSE AUTHORIZED IN THE STATE BUDGET.

(D)     (1) THE TREASURER IS THE CUSTODIAN OF THE FUND.

(2) THE TREASURER SHALL DEPOSIT PAYMENTS RECEIVED FROM THE
COMMISSIONER INTO THE FUND.

(E)     (1) THE FUND IS A CONTINUING, NONLAPSING FUND THAT IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE, AND MAY
NOT BE DEEMED A PART OF THE GENERAL FUND OF THE STATE.

(2) UNLESS OTHERWISE PROVIDED BY LAW, NO PART OF THE FUND MAY
REVERT OR BE CREDITED TO:

(I)      THE GENERAL FUND OF THE STATE; OR

(II)     A SPECIAL FUND OF THE STATE.

(F)     (1) ALL THE COSTS AND EXPENSES OF THE COMMISSIONER RELATING
TO THE REGULATION OF THE DEBT MANAGEMENT SERVICES BUSINESS UNDER THIS
SUBTITLE SHALL BE INCLUDED IN THE STATE BUDGET.

(2)      ANY EXPENDITURES FROM THE FUND TO COVER COSTS AND
EXPENSES OF THE COMMISSIONER MAY BE MADE ONLY:

(I)      BY AN APPROPRIATION FROM THE FUND APPROVED BY THE
GENERAL ASSEMBLY IN THE ANNUAL STATE BUDGET; OR

(II)     BY THE BUDGET AMENDMENT PROCEDURE PROVIDED FOR IN §
7-209 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(3)      IF, IN ANY FISCAL YEAR, THE AMOUNT OF THE REVENUE COLLECTED
BY THE COMMISSIONER AND DEPOSITED INTO THE FUND EXCEEDS THE ACTUAL
APPROPRIATION FOR THE COMMISSIONER TO REGULATE THE DEBT MANAGEMENT
SERVICES BUSINESS UNDER THIS SUBTITLE, THE EXCESS AMOUNT SHALL BE
CARRIED FORWARD WITHIN THE FUND.

(G)     THE OFFICE OF LEGISLATIVE AUDITS SHALL AUDIT THE ACCOUNTS AND
TRANSACTIONS OF THE FUND UNDER § 2-1220 OF THE STATE GOVERNMENT ARTICLE.

12-906.

A PERSON MAY NOT PROVIDE DEBT MANAGEMENT SERVICES IF THAT PERSON,
OR THE PERSON WITH WHOM THAT PERSON PROVIDES DEBT MANAGEMENT
SERVICES, IS LOCATED IN THE STATE TO CONSUMERS UNLESS THAT THE PERSON:

(1)      IS LICENSED BY THE COMMISSIONER UNDER THIS SUBTITLE; OR

(2)      IS EXEMPT FROM LICENSING UNDER THIS SUBTITLE.
12-907.

(A) TO QUALIFY FOR A LICENSE, AN APPLICANT SHALL SATISFY THE
COMMISSIONER THAT:

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