Bill > SB784

This bill repeals a specific provision within Maryland's financial institutions law that previously exempted certain individuals or entities from licensing requirements when they acquired or were assigned mortgages, mortgage loans, or installment loans under particular conditions. Essentially, it removes an exemption that allowed some companies to handle these types of loans without needing a state license, meaning they will now likely be subject to the same licensing rules as other financial service providers in the state. The bill also states that this change is intended to correct a provision that was mistakenly enacted in a prior legislative session.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0784?ys=2026RS