Ch. 375

2003 LAWS OF MARYLAND

(2)      PAYS TO THE COMMISSIONER THE RENEWAL FEE ESTABLISHED
UNDER § 12-904 OF THIS SUBTITLE;

(3)      FILES WITH THE COMMISSIONER A SURETY BOND RENEWAL
CERTIFICATE OR A NEW SURETY BOND REQUIRED UNDER § 12-914 OF THIS
SUBTITLE; AND

(4)      SUBMITS TO THE COMMISSIONER A RENEWAL APPLICATION ON THE
FORM THAT THE COMMISSIONER REQUIRES.

(C) THE COMMISSIONER MAY DETERMINE THAT LICENSES ISSUED UNDER
THIS SUBTITLE SHALL EXPIRE ON A STAGGERED BASIS.

12-913.

(A)     (1) A LICENSEE MAY SURRENDER A LICENSE BY SENDING TO THE
COMMISSIONER A WRITTEN STATEMENT THAT THE LICENSE IS SURRENDERED.

(2) THE STATEMENT SHALL PROVIDE:

(I)      THE REASON FOR THE LICENSE SURRENDER;

(II)     FOR EACH CONSUMER LOCATED IN THE STATE FOR WHOM THE
LICENSEE IS PROVIDING DEBT MANAGEMENT SERVICES, THE FOLLOWING
INFORMATION:

1.       THE NAME OF THE CONSUMER;

2.       THE TOTAL AMOUNT OF FUNDS HELD BY THE LICENSEE
FOR DISTRIBUTION TO THE CONSUMER'S CREDITORS; AND

3.       THE NAME OF EACH CREDITOR OF THE CONSUMER THAT
IS RECEIVING PAYMENTS FROM THE LICENSEE FOR DEBTS OWED BY THE
CONSUMER TO THE CREDITOR, AND THE OUTSTANDING BALANCE OWED TO EACH
CREDITOR

(B)     THE SURRENDER OF A LICENSE DOES NOT:

(1)      AFFECT ANY ADMINISTRATIVE, CIVIL, OR CRIMINAL LIABILITY OF
THE LICENSEE FOR ACTS COMMITTED BEFORE THE LICENSE IS SURRENDERED;

(2)      AFFECT THE SURETY BOND REQUIRED UNDER § 12-914 OF THIS
SUBTITLE; OR

(3)      ENTITLE THE LICENSEE TO THE RETURN OF ANY FEE PAID TO THE
COMMISSIONER UNDER § 12-904 OF THIS SUBTITLE.

12-914.

(A)     WITH THE APPLICATION FOR A NEW OR RENEWAL LICENSE, THE
APPLICANT OR LICENSEE SHALL FILE A SURETY BOND OR BOND RENEWAL
CERTIFICATE WITH THE COMMISSIONER AS PROVIDED IN THIS SECTION.

(B)     (1) A SURETY BOND FILED UNDER THIS SECTION SHALL RUN TO THE
STATE FOR THE BENEFIT OF ANY INDIVIDUAL WHO RESIDES IN THE STATE AND

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