Ch. 375

2003 LAWS OF MARYLAND

(IV)    THE POTENTIAL LOSS TO CONSUMERS WHO REMIT FUNDS TO
THE APPLICANT OR LICENSEE IF THE APPLICANT OR LICENSEE BECOMES
FINANCIALLY IMPAIRED; AND

(V)     ANY OTHER FACTOR THE COMMISSIONER CONSIDERS
APPROPRIATE.

(C)     IF THE PRINCIPAL AMOUNT OF A SURETY BOND IS REDUCED BY PAYMENT
OF A CLAIM OR JUDGMENT, THE LICENSEE SHALL FILE WITH THE COMMISSIONER
ANY NEW OR ADDITIONAL SURETY BOND IN THE AMOUNT THAT THE COMMISSIONER
SETS.

(D)     THE COMMISSIONER MAY WAIVE THE SURETY BOND REQUIREMENT
UNDER THIS SECTION IF THE COMMISSIONER DETERMINES THAT THE VOLUME OF
DEBT MANAGEMENT SERVICES PROVIDED BY THE APPLICANT OR LICENSEE DOES
NOT WARRANT THE NEED FOR A SURETY BOND.

(E)     A PENALTY IMPOSED UNDER § 12-928 OR § 12-929 OF THIS SUBTITLE MAY
BE PAID AND COLLECTED FROM THE PROCEEDS OF A SURETY BOND REQUIRED
UNDER THIS SECTION.

12-915.

(A) A LICENSEE SHALL GIVE THE COMMISSIONER WRITTEN NOTICE OF ANY
CHANGE IN THE INFORMATION REQUIRED TO BE INCLUDED IN THE LICENSEE'S
APPLICATION UNDER § 12-908(B)(1) AND (2) OF THIS SUBTITLE WITHIN 10 DAYS AFTER
THE CHANGE IS EFFECTIVE.

(B) UNLESS APPROVED BY THE COMMISSIONER, A LICENSEE MAY NOT
CHANGE AN OWNER, OFFICER, DIRECTOR, OR PRINCIPAL OF THE LICENSEE, OR AN
AGENT WHO IS ACTING ON BEHALF OF THE LICENSEE TO MANAGE A TRUST
ACCOUNT, LISTED ON THE LICENSEE'S APPLICATION UNDER § 12-908(B)(3) AND (6) OF
THIS SUBTITLE.

(C) (1) TO REQUEST APPROVAL OF A PROPOSED CHANGE DESCRIBED IN
SUBSECTION (B) OF THIS SECTION, THE LICENSEE SHALL NOTIFY THE
COMMISSIONER IN WRITING OF THE PROPOSED CHANGE AND SUBMIT ANY
INFORMATION THAT THE COMMISSIONER REQUIRES.

(2) FOR A PROPOSED CHANGE IN OWNER OR AGENT ACTING ON BEHALF
OF THE LICENSEE TO MANAGE A TRUST ACCOUNT, THE COMMISSIONER MAY
DETERMINE THAT THE FILING OF A NEW APPLICATION FOR THE ISSUANCE OF A
LICENSE IS WARRANTED.

(3) UNLESS THE COMMISSIONER NOTIFIES THE LICENSEE THAT A
DIFFERENT TIME PERIOD IS NECESSARY, THE COMMISSIONER SHALL APPROVE OR
DENY A REQUEST FOR A CHANGE DESCRIBED IN SUBSECTION (B) OF THIS SECTION
WITHIN 60 DAYS AFTER THE DATE THE COMMISSIONER RECEIVES ALL INFORMATION
REQUIRED UNDER PARAGRAPH (1) OF THIS SUBSECTION.

(A) (1) A LICENSEE MAY NOT CHANCE A BUSINESS LOCATION FOR WHICH A
LICENSE IS ISSUED UNLESS THE LICENSEE:

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