Section 11-607 - Investigation and approval. - Maryland Statutes

§ 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)  Provisional approval.- If the Commissioner has not notified the applicant in writing that the applicant's application is incomplete or has been denied within 30 days after the Commissioner receives the completed application, the application shall be considered provisionally approved. 

(d)  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 considered provisionally approved until 30 days after the applicant supplies or completes all items and steps identified in the Commissioner's notice. 

(e)  Denial.- Whether or not an application has been provisionally approved, 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. 

(f)  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. 
 

[2005, ch. 590; 2009, ch. 4.]