§ 11-607. Investigation and approval

   (a) Investigation. -- When an applicant for a license files the application and pays the fees required by § 11-604 of this subtitle, the Commissioner shall conduct an investigation to determine if the applicant meets the requirements of § 11-605 of this subtitle.

(b) Issuance of license. -- The Commissioner shall issue a license to an applicant who meets the requirements of § 11-605 of this subtitle.

(c) Incomplete applications. -- If the Commissioner notifies an applicant that the application is incomplete:

   (1) The Commissioner's notice shall itemize the steps which the applicant must take to complete the application; and

   (2) The application shall not be approved until after the applicant supplies or completes all items and steps identified in the Commissioner's notice.

(d) Denial. -- The Commissioner may deny an application:

   (1) If the applicant fails to qualify for a license under this subtitle; or

   (2) For any reason that a license may be revoked or suspended under this subtitle or a mortgage lender license may be suspended or revoked under § 11-517 of this title.

(e) Approval or denial within certain time limit. -- The Commissioner shall approve or deny an application within 60 days after the Commissioner receives a completed application.

HISTORY: 2005, ch. 590; 2009, ch. 4; 2011, ch. 148.