Md. Code, Financial Institutions § 11–205

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.