Maryland Administrative Code

.02 Standards. The following standards shall be considered in the grant, denial, renewal, or revocation of a license, when an applicant or licensee has been convicted of a crime: A. The nature of the crime; B. The relationship of the crime to the activities authorized by the lice…

.01 General. This chapter contains procedures regarding: A. The attendance by members of general public of open sessions of the units in the Maryland Department of Labor; and B. The recording and broadcasting of open sessions of the units within the Maryland Department of Labor.

.02 Definitions. A. In this chapter, the following terms have the meanings indicated. B. Terms Defined. (1) “Department” means the Maryland Department of Labor. (2) “Open meeting” means a public meeting of the unit within the Department required to be open to the public pursuant …

.03 Public Attendance. A. The public is invited to attend and observe any open session of the unit within the Department. B. Except in instances when the unit expressly invites public testimony, questions, comments, or other forms of public participation, or when public participa…

.04 Prohibited Conduct or Activity. A. An individual attending an open session of the unit may not engage in conduct that disrupts the session or interferes with the right or opportunity of members of the public to attend and observe the session. B. The presiding officer may: (1)…

.05 Recording, Photographing, and Broadcasting of Open Sessions. A. During a public session, a member of the public, including a representative of the news media, may record discussions of the unit using a recording device, if the device: (1) Does not create an excessive noise th…

.06 Recordings Not Part of Record. A recording of an open session made by a member of the public, or any transcript derived from such a recording, may not be deemed a part of the record or any proceeding of the unit.

.01 Procedures. A. The procedures described in this regulation shall apply to a proposed decision or action of a board or commission within the Maryland Department of Labor composed in whole or in part of individuals participating in the occupation or profession regulated by the …

.08 Real Estate Lending. A. Definitions. (1) “Appraisal” means an objective estimate of value established using a real estate appraisal policy approved by the board of directors in accordance with all applicable federal and State laws and regulations and in conformity with second…

.09 Repealed.

.10 Investments. A. In this regulation, the following terms have the meanings indicated. B. Terms Defined. (1) “Adjusted trading” means any method or transaction used to defer a loss whereby a credit union sells a security to a vendor at a price above its current market price, an…

.11 Accounting Procedures and Records Retention. A. A credit union shall maintain books and financial records that: (1) Accurately and fully reflect the fiscal affairs of the credit union; and (2) Are sufficient to enable an independent certified public accountant to perform a co…

.12 and .13 Repealed.

.14 Member Business Loans. A. In this regulation, the following terms have the meanings indicated: (1) “Associated member” means a member with shared ownership, investment, or other pecuniary interest in a business or commercial endeavor with the borrower. (2) “Development or con…

.15 Maximum Loans to a Single Member. The term “indirectly to any one member”, as used in Financial Institutions Article, §6-604, Annotated Code of Maryland, includes a loan or extension of credit made to any member who, acting directly or indirectly, individually or in concert w…

.16 Reports to the Commissioner of Financial Regulation. A. The Commissioner of Financial Regulation shall require, as additional reports pursuant to Financial Institutions Article, §6-404(b), Annotated Code of Maryland, that a Report of Condition be received by the Commissioner …

.17 Boards of Directors — Electronically Conducted Elections. A. In this chapter, the following terms have the meanings indicated. B. Terms Defined. (1) “Electronically” means the use of one or more electronic devices. (2) “Electronic device” means a device having electrical, dig…

.01 Definitions. A. In this chapter, the following terms have the meanings indicated. B. Terms Defined. (1) “Assessment” means the annual assessment authorized under Financial Institutions Article, §2-120, Annotated Code of Maryland. (2) “Commissioner” has the meaning stated in F…

.02 Repealed.

.03 Repealed.

.04 Books and Records of Certain Regulated Persons. A. Definition. (1) In this regulation the following term has the meaning indicated. (2) Term Defined. “Loan” means: (a) A loan as defined in Financial Institutions Article, §11-201, Annotated Code of Maryland; (b) An installment…

.05 Unfair and Deceptive Trade Practices. A. Advertising. (1) Each consumer loan licensee shall comply with all provisions of Regulation Z, promulgated under the Federal Consumer Credit Protection Act, Truth-in-Lending, that relate to the advertising of credit terms. (2) A consum…

.06 Contested Case Hearings Before the Commissioner. A. Except as otherwise provided in §§C, D, and E of this regulation, all contested case hearings before the Commissioner are governed by COMAR 09.01.02. B. For a hearing under Financial Institutions Article, §11-415, Annotated …

.07 Contested Case Hearings Delegated to the Office of Administrative Hearings. All contested case hearings delegated to the Office of Administrative Hearings are governed by COMAR 09.01.03.

.08 Remote Work for Employees of Licensees. A. Scope. (1) This regulation governs the conduct of any employee operating from a location other than that which appears on the employer’s license or licenses. (2) Notwithstanding §A(1) of this regulation, this regulation does not appl…

.09 Approval for Addition, Deletion, or Change of Location or Trade Name. A. Approval to Add, Delete, or Change a Licensed Location. (1) A regulated person who wishes to add, delete, or change the address of a licensed location shall provide the Commissioner notice of the additio…

.10 Non-Depository Licensee Assessment. A. Timing of Assessment. (1) The Commissioner shall notify licensed persons of an assessment no earlier than May 1 or later than June 1 of each year regardless of whether any sum is due. (2) The assessment shall be based on information avai…

.11 Licensees Providing Check Cashing Services. A. Definition. (1) In this regulation, the following term has the meaning indicated. (2) Term Defined. “Licensee” has the meaning stated in Financial Institutions Article, §12-101, Annotated Code of Maryland. B. Any licensee listing…

.12 Licensees Providing Money Transmission Services. A. Definitions. (1) In this regulation, the following terms have the meanings indicated. (2) Terms Defined. (a) “Licensee” has the meaning stated in Financial Institutions Article, §12-401, Annotated Code of Maryland. (b) “Self…

.13 Availability of List of Licensed Locations. Upon written request by any person the Commissioner shall provide the list of Licensed Locations that any Licensed Person has provided.

.01 Scope. Regulations under this chapter contain procedures by which the Commissioner of Financial Regulation of the State of Maryland may reach informed decisions with respect to: A. Applications to charter state banking institutions and credit unions pursuant to Financial Inst…

.02 Definitions. A. In this chapter, the following terms have the meanings indicated. B. Terms Defined. (1) “Hearing panel” means the Presiding Officer and other individuals designated by him to hear the case; however, the decision shall be made by the Presiding Officer. (2) “Pre…

.03 Publication. Within 30 calendar days after an application is filed with the Commissioner of Financial Regulation, he shall publish in the Maryland Register a notice containing the name of the applicant, its proposed location, the subject matter of the application, and the dat…

.04 Solicitation of Comments. In addition to publication under Regulation .03 of this chapter, the Commissioner of Financial Regulation may solicit comments from each person or organization he believes has information concerning the application.

.05 Comments and Request for a Hearing. Any interested person or organization may submit to the Commissioner of Financial Regulation written comments concerning the application. These comments and all requests for a hearing should be received by the Commissioner of Financial Regu…

.06 Public Information. The Commissioner's file on the application shall include all information received from any person or organization in regard to that application. The information available for public inspection consists of that portion of the file which may be disclosed und…

.07 Scheduling of a Hearing. The Commissioner of Financial Regulation may schedule a hearing on the application in the following instances: A. Upon a request made within the time limit set forth in Regulation .05 of this chapter by a person or organization other than the applican…

.08 Notice of Hearings. If a hearing is scheduled, at least 20 calendar days before the scheduled date of the hearing, notice shall be mailed to: A. The applicant; B. Those who made a timely request for a hearing under Regulation .05 of this chapter; and C. Other persons designat…

.09 Hearing Rules. A. Only the persons or organizations receiving notice under Regulation .08 of this chapter are parties to the hearing. B. All hearings shall be open to the public. C. Each party to the hearing shall be permitted to make a short opening statement outlining his p…

.10 Decision. If a hearing is held, the Presiding Officer shall state his decision and reasons for it in writing. A copy of the decision and reasons shall be mailed to all parties.

.11 Retained Authority. If the Presiding Officer in his sole discretion determines that the operation of any of the aforegoing rules in a particular case would not aid him in fulfilling his statutory duties, and if he shall also determine that the suspension or modification of th…

.01 Repossession. In every case where written notice is delivered or sent to the obligor as required by Commercial Law Article, §12-624(d), Annotated Code of Maryland, this notice will state, as part of the buyer's right to redeem and the amount payable for it, the following: A. …

.02 Application of Proceeds of Resale by Holder of Repossessed Goods. A. In all cases of private sale of repossessed goods, a full accounting shall be made to the buyer in writing. The seller shall retain a copy of this accounting for at least 24 months. B. The accounting shall c…

.03 Insurance. A. Except as provided elsewhere in this regulation, if an insurance premium is financed as part of an installment sale agreement, whether for dual interest physical damage insurance or third-party liability insurance, or both, and the insurance is terminated for an…

.01 Scope. This chapter governs the conduct of any person engaged in mortgage lending, mortgage brokering, or mortgage servicing of loans secured by residential real estate located in this State, unless specifically exempt from licensure under Financial Institutions Article, §11-…

.02 Definitions. A. In this chapter, the following terms have the meanings indicated. B. Terms Defined. (1) “Advertisement” means a statement in any medium used or intended to induce any person to apply for a mortgage loan. (2) “Annual percentage rate (APR)” has the meaning state…

.03 Delivery and Receipt of Mortgage Disclosures. A. A licensee shall be deemed to have complied with a requirement under Commercial Law Article, Title 12, Subtitles 1, 3, 4, 8, 9, or 10, Annotated Code of Maryland, to provide a written disclosure or agreement within a specified …