Maryland Statutes
§ 12-405
Maryland § 12-405
This text of Maryland § 12-405 is published on Counsel Stack Legal Research, covering Maryland primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Md. Code Ann., Financial Institutions § 12-405 (2026).
Text
(a)A person may not engage in the business of money transmission if that person, or the person with whom that person engages in the business of money transmission, is located in the State unless that person:
(1)Is licensed by the Commissioner;
(2)Is an authorized delegate of a licensee under whose name the business of money transmission occurs; or
(3)Is a person exempted from licensing under this subtitle.
(b)Each licensee or license applicant shall obtain and maintain a valid unique identifier issued by NMLS on forming an account with NMLS.
(c)An applicant for an initial license or a license renewal shall apply for the license or renewal through NMLS.
Free access — add to your briefcase to read the full text and ask questions with AI
Nearby Sections
15
Cite This Page — Counsel Stack
Bluebook (online)
Maryland § 12-405, Counsel Stack Legal Research, https://law.counselstack.com/statute/md/gfi/12-405.