There is a newer version of the Maryland Code
Maryland Financial Institutions Section 11-509
§ 11-509.
  (a)   When an applicant for a license files the application and bond and pays the fees required by § 11-507 of this subtitle, the Commissioner shall investigate to determine if the applicant meets the requirements of § 11-506 of this subtitle.
  (b)   The Commissioner shall approve or deny each application for a license within 60 days after the date when the application and bond are filed and the fees are paid.
  (c)   The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle.
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