Section 14-1903 - Application of subtitle; licenses. - Maryland Statutes

§ 14-1903. Application of subtitle; licenses.
 

(a)  In general.- Notwithstanding any election of law or designation of situs in any contract, this subtitle applies to any contract for credit services if: 

(1) The credit services business offers or agrees to sell, provide, or perform any services to a resident of this State; 

(2) A resident of this State accepts or makes the offer in this State to purchase the services of the credit services business; or 

(3) The credit services business makes any verbal or written solicitation or communication that originates either inside or outside of this State but is received in the State by a resident of this State. 

(b)  Licenses - Required.- A credit services business is required to be licensed under this subtitle and is subject to the licensing, investigatory, enforcement, and penalty provisions of this subtitle and Title 11, Subtitle 3 of the Financial Institutions Article. 

(c)  Same - Issuance.- A license required by this subtitle shall be issued by the Commissioner. 

(d)  Same - Exemptions.- A person not included within the definition of a credit services business as provided in § 14-1901(e)(3) of this subtitle is exempt from licensure requirements under this subtitle. 
 

[1991, ch. 628; 2001, ch. 29, § 1; 2005, ch. 25, § 13.]