Maryland § 12-1102

§ 12-1102.

    (a)    Beginning March 15, 2024, a student financing company shall register with the Commissioner as a student financing company before providing services in the State.

    (b)    An application for registration shall include:

        (1)    The student financing company’s name;

        (2)    The student financing company’s address;

        (3)    The name of all officers, directors, partners, and owners of controlling interests of the student financing company;

        (4)    The addresses of all officers, directors, partners, and owners of controlling interests in the student financing company; and

        (5)    Any other information that the Commissioner requires by regulation.

    (c)    A student financing company shall renew its registration on an annual basis, and may be required to pay a fee at the time of renewal.

    (d)    The Commissioner may adopt and enforce:

        (1)    Registration procedures for student financing companies, which may include the use of NMLS;

        (2)    Registration fees for student financing companies, which may include fees for the use of NMLS, to be paid directly by the student financing company;

        (3)    Procedures and fees for renewing a student financing company’s registration, which may include fees for the renewed use of NMLS, to be paid directly by the student financing company; and

        (4)    Alternate registration procedures and fees for institutions of postsecondary education that offer student financing products.