Maryland · HB1516

Financial Institutions - Consumer Credit - Application of Licensing Requirements (Maryland Secondary Market Stability Act of 202

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This is now an official law, recorded in the state's law books.

Stage 6 of 6Signature

1
Sponsors: 3
Votes: Apr 22 ’25
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In plain words

AI summary

Written by AI from the bill text. Check the official text before relying on it.

Description

Providing that certain provisions of law governing the licensing of providers of certain financial services in the State do not apply to a certain trust that acquires or is assigned a certain mortgage loan under certain circumstances; establishing the Maryland Licensing Workgroup to study and make recommendations on licensing requirements for persons that provide financial services in the State; and requiring the Workgroup to report to the Governor and the General Assembly by December 31, 2025.

Subjects

MortgagesEmergency BillsStudies -see also- Commitees & Commissions; ReportsLoans -see also- Credit; Mortgages; Scholarships&SFAFinance CompaniesCommittees and CommissionsYu Gwan-sun Day.Registration -see also- Motor Vehicle RegistrationEstates and Trusts -see also- BeneficiariesFinancial Regulation, Division ofFinancial InstitutionsSunsetFinancial Institutions -see also- Banks; Credit Unions; etc.CreditReports

Progress

IntroducedFeb 17, 2025
Sent to committeeMar 6, 2025
Passed the first chamberMar 15, 2025
PassedMar 17, 2025
Passed both chambersApr 7, 2025
Became lawApr 22, 2025

From official state and federal legislative records. Informational only, not legal advice.