§ 12-404
108 words·~1 min read·
/md/financial-institutions/12-404A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–404.
(a)All revenue received for the licensing and assessment of money transmitters under this subtitle and any other fee, examination assessment, or revenue received by the Commissioner under this subtitle shall be:
(1)Credited to the Non–Depository Special Fund established under § 2–120 of this article; and
(2)Used in accordance with § 2–120(d) of this article.
(b)Notwithstanding subsection
(a)of this section, the Commissioner shall pay all fines and penalties collected by the Commissioner under this subtitle into the General Fund of the State.
(c)Subject to § 2–120(h) of this article, the Commissioner may impose an annual assessment on any licensee under this subtitle.