2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 2-105 - Authority of Secretary

§2-105.

The Commissioner exercises the powers and performs the duties of the office subject to the authority of the Secretary of Labor, Licensing, and Regulation.

§ 2-105 - 1. Regulations; multistate automated licensing systems.

(a) Definitions. --

(1) In this section the following words have the meanings indicated.

(2) "Money transmission" has the meaning stated in § 12-401 of this article.

(3) "Mortgage lender" has the meaning stated in § 11-501 of this article.

(4) "Mortgage originator" has the meaning stated in § 11-601 of this article.

(b) Regulations. -- The Commissioner may adopt and enforce regulations reasonably necessary to carry out the authority and responsibility of the office of Commissioner.

(c) Multistate automated licensing systems. --

(1) The Commissioner may participate in the establishment and implementation of a multistate automated licensing system for:

(i) Mortgage lenders;

(ii) Mortgage originators; and

(iii) Persons who engage in money transmission.

(2) To facilitate implementation of a multistate automated licensing system, the Commissioner may adopt regulations that waive or modify the requirements of:

(i) Title 11, Subtitles 5 and 6 of this article with respect to mortgage lenders and mortgage originators; and

(ii) Title 12, Subtitle 4 of this article with respect to persons who engage in money transmission.