§ 11-205. Qualifications of applicant for license

MD Fin Inst Code § 11-205 (2019) (N/A)
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To qualify for a license, an applicant shall satisfy the Commissioner that:

(1)    The applicant has at least $20,000 in liquid assets available to be used in the business to be covered by the license;

(2)    The business will promote the convenience and advantage of the community in which the place of business will be located; and

(3)    The applicant or, if the applicant is not an individual, the owners, officers, directors, or members have sufficient experience, character, financial responsibility, and general fitness to:

(i)    Command the confidence of the public; and

(ii)    Warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently.