Unannotated Code of Maryland (Last Updated: May 16, 2014) |
FINANCIAL INSTITUTIONS |
TITLE 11. CONSUMER CREDIT |
SUBTITLE 5. MARYLAND MORTGAGE LENDER LAW |
§ 11-509. Investigation of applicant; issuance of license
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(a) Investigation. -- When an applicant for a license files the application and bond and pays the fees required by § 11-507 of this subtitle, the Commissioner shall investigate to determine if the applicant meets the requirements of § 11-506 of this subtitle.
(b) Period for Commissioner's action. -- The Commissioner shall approve or deny each application for a license within 60 days after the date when the application and bond are filed and the fees are paid.
(c) Issuance of license. -- The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle.