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Ch. 539 2002 LAWS OP MARYLAND
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(i) Notify the applicant immediately of this fact;
(ii) Subject to the hearing provisions of [§ 12-421] § 12-128 of this
subtitle, deny the application;
(iii) Return the [bond] SURETY DEVICE filed [or permissible
investments deposited] under [§ 12-406] § 12-407 of this subtitle;
(iv) Refund the license [and agent fees] FEE; and
(v) Keep the investigation fee.
(2) Within 30 days after the Commissioner denies an application, the
Commissioner shall [:] STATE THE REASONS FOR THE DENIAL IN WRITING AND MAIL
THEM TO THE ADDRESS LISTED IN THE APPLICATION.
[(i) File in the Commissioner's office a written order of the denial;
(ii) Mail a copy of the order to the applicant at the address given on
the application; and
(iii) Return the bond filed or permissible investments deposited
under § 12-406 of this subtitle.]
[12-408.] 12-410.
(a) The Commissioner shall include on each license:
(1) The TRADE name of the licensee; and
(2) The address at which the business is to be conducted.
(b) (1) A license authorizes the licensee to do business under the license, at
the licensed place of business.
(2) A license does not authorize the licensee to accept deposits or engage
otherwise in a banking business except as authorized in this subtitle.
(3) Only one place of business may be maintained under any one license.
(c) The Commissioner may issue more than one license to an applicant who:
(1) Complies with [§12-406] § 12-407 of this subtitle; and
(2) Otherwise meets the requirements of this subtitle.
(D) A LICENSE MAY NOT BE TRANSFERRED OR ASSIGNED.
(E) (1) (I) IF THE LICENSEE HAS ITS HEADQUARTERS IN THE STATE, THE
LICENSEE SHALL PROMINENTLY DISPLAY THE LICENSE IN THE LOCATION THAT IS
OPEN TO THE PUBLIC AND AT WHICH THE LICENSEE ENGAGES IN THE BUSINESS OF
MONEY TRANSMISSION.
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(II) IF THE LICENSEE HAS ITS HEADQUARTERS OUTSIDE THE
STATE, THE LICENSEE SHALL MAINTAIN THE LICENSE IN THE HEADQUARTERS.
- 4070 -
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