Maryland Financial Institutions Section 11-507

      (a)      (1)      To apply for a license, an applicant shall complete, sign, and submit to the Commissioner an application made under oath on the form that the Commissioner requires.

            (2)      The applicant shall comply with all conditions and provisions of the application for licensure and be issued a license before acting as a mortgage lender at a particular location.

            (3)      The application shall include:

                  (i)      If the applicant is an individual, the applicant's name, business address and telephone number, and residence address and telephone number;

                  (ii)      If the applicant is a partnership or other noncorporate business association, the business name, business address and telephone number, and the residence address and telephone number of each:

                        1.      General partner, if the applicant is a limited partnership;

                        2.      General partner who holds an interest in the partnership of more than 10 percent, if the applicant is a general partnership; or

                        3.      Member, if the applicant is another noncorporate business association;

                  (iii)      If the applicant is a corporation:

                        1.      The name, address, and telephone number of the corporate entity; and

                        2.      The name, the business telephone number, and the residence address and telephone number of the president, senior vice presidents, secretary, and treasurer, each director, and each stockholder owning or controlling 10 percent or more of any class of stock in the corporation;

                  (iv)      The name under which the mortgage lending business is to be conducted;

                  (v)      The name and address of the applicant's resident agent, if any; and

                  (vi)      Any other information that the Commissioner reasonably requires.

      (b)      With each application, the applicant shall pay to the Commissioner:

            (1)      A nonrefundable investigation fee of $100; and

            (2)      A license fee of either:

                  (i)      $1,000 if the applicant applies for a license to be issued on or after January 1 and on or before December 31 of an even-numbered year;

                  (ii)      Effective January 1, 1999, $500 if the applicant applies for a license to be issued on or after January 1 and on or before December 31 of an odd-numbered year; or

                  (iii)      Notwithstanding subparagraph (i) or (ii) of this paragraph, $1,000 if the applicant applies for a license to be issued on or after October 1, 1997 and on or before December 31, 1997.

      (c)      For each license for which an applicant applies, the applicant shall:

            (1)      Submit a separate application;

            (2)      Pay a separate license fee;

            (3)      If applicable, pay the surcharge; and

            (4)      File a separate surety bond or other financial guaranty under § 11-508 of this subtitle.

      (d)      In addition to any sanctions that may be imposed under this subtitle by the Commissioner, a nonrefundable surcharge of $500 shall be paid with an application if the applicant has begun acting as a mortgage lender without a license at the location for which an application is filed.

      (e)      A person who knowingly makes a false statement under oath on an application filed with the Commissioner under this section is guilty of perjury and on conviction is subject to the penalties of § 9-101 of the Criminal Law Article.