Maryland’s Department of Labor, Licensing and Regulation (DLLR) recently released new bond forms for 6 professional licenses. Before the release of the individual forms, license applicants indicated the license they were applying for, and the bond amount, on a single bond form. The new forms include language that more clearly explains the provisions of the bonds. The bond amounts have not changed for any of the licenses, however, the check casher bond (which was listed on the former, single form) is no longer a requirement.
New bond forms were released for the following licenses:
- Mortgage lenders, brokers and/or servicers
- Money transmitters
- Debt settlement service providers
- Consumer loan services
- Collection agencies
- Credit services businesses
The forms are also available for download on each page under the “Applications and Forms” headings. Follow the “read more” links above to visit dedicated pages and learn about the individual bonds.