Licensing

Last Review
Last Update

Statutes

"A person may not make a loan or use any advantage provided by the Maryland Consumer Loan Law unless they are licensed. Md. Code, Fin. Inst.; § 11-203.1

A person may not receive any application for a loan or allow a note or contract for a loan to be signed at any place of business that is not a licensed location. Md. Code, Fin. Inst.; § 11-204.

Specific entities are excluded from licensing provisions for installment loans. Md. Code, Fin. Inst.; § 11-302.

Sales finance companies must obtain a license. Md. Code, Fin. Inst.; § 11-403.

Mortgage lenders must obtain a license. Md. Code, Fin. Inst.; § 11-504.

Mortgage originators must obtain a license. Md. Code, Fin. Inst.; § 11-602."

Cases

Comments

None.

Contributors

Steven N. Leitess
Leitess Friedberg PC

The statutory information was edited and reviewed with the support of MultiState

Become a Content Contributor

The State Law Compendium is made possible through the cooperation, dedication and ongoing efforts of attorney’s who provide and update its statues, cases and comments. Attorneys who would like to volunteer to develop or update compendium content are welcome to contact us to learn more.
Learn more