ROBERT L. EHRLICH, JR., Governor                             Ch. 375

(1)      THE APPLICANT IS AN ORGANIZATION;

(2)      EACH OF THE OWNERS, OFFICERS, DIRECTORS, AND PRINCIPALS OF
THE APPLICANT HAS SUFFICIENT EXPERIENCE, CHARACTER, FINANCIAL
RESPONSIBILITY, AND GENERAL FITNESS TO:

(I)      ENGAGE IN THE BUSINESS OF PROVIDING DEBT MANAGEMENT
SERVICES;

(II)     WARRANT THE BELIEF THAT THE DEBT MANAGEMENT
SERVICES BUSINESS WILL BE CONDUCTED LAWFULLY, HONESTLY, FAIRLY, AND
EFFICIENTLY; AND

(III)   COMMAND THE CONFIDENCE OF THE PUBLIC;

(3)      EACH AGENT ACTING ON BEHALF OF THE APPLICANT TO MANAGE A
TRUST ACCOUNT REQUIRED UNDER § 12-917 OF THIS SUBTITLE HAS SUFFICIENT
EXPERIENCE, CHARACTER, FINANCIAL RESPONSIBILITY, AND GENERAL FITNESS TO:

(I)      ENGAGE IN THE BUSINESS OF MANAGING A TRUST ACCOUNT;

(II)     WARRANT THE BELIEF THAT THE MANAGEMENT OF THE TRUST
ACCOUNT WILL BE CONDUCTED LAWFULLY, HONESTLY, FAIRLY, AND EFFICIENTLY;
AND

(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

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