2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 12-430 - Penalties

§12-430.

Any person who knowingly and willfully violates any provision of this subtitle is guilty of a felony and on conviction is subject to a fine not exceeding $1,000 for the first violation and not exceeding $5,000 for each subsequent violation or imprisonment not exceeding 5 years or both.

§ 12-430 - 1. Reporting and enforcement of actions against money transmitters.

(a) Reporting adjudicated enforcement actions against money transmitters to nationwide licensing system; challenges. --

(1) Notwithstanding §§ 10-611 through 10-628 of the State Government Article, and subject to § 12-408.1 of this subtitle, the Commissioner shall report adjudicated enforcement actions against a money transmitter or its authorized delegate and other relevant information to the nationwide licensing system.

(2) The Commissioner shall adopt regulations establishing a process by which a licensee or an applicant for a license may challenge information entered by the Commissioner into the nationwide licensing system.

(b) Submitting information related to persons not licensees or authorized delegates. -- The Commissioner may submit to the nationwide licensing system information regarding enforcement actions against persons engaged in the money transmission business who are not licensees or authorized delegates.