{"data":{"id":"us-md/md.-code-business-regulation-7-102","jurisdiction":"us-md","citation":"Md. Code, Business Regulation § 7–102","heading":"","body":"(a) (1) In this section the following words have the meanings indicated.\n(2) “Common ownership” means direct or indirect ownership of more than 50% of a person.\n(3) “Principal business” means a business activity of a person that comprises more than 50% of the total business activities of the person.\n(b) This title does not apply to:\n(1) a bank;\n(2) a federal or State credit union;\n(3) a mortgage lender;\n(4) a person acting under an order of a court of competent jurisdiction;\n(5) a licensed real estate broker, or an individual acting on behalf of the real estate broker, in the collection of rent or allied charges for property;\n(6) a savings and loan association;\n(7) a title company as to its escrow business;\n(8) a trust company;\n(9) a lawyer who is collecting a debt for a client, unless the lawyer has an employee who:\n(i) is not a lawyer; and\n(ii) is engaged primarily to solicit debts for collection or primarily makes contact with a debtor to collect or adjust a debt through a procedure identified with the operation of a collection agency; or\n(10) a person who is collecting a debt for another person if:\n(i) both persons are related by common ownership;\n(ii) the person who is collecting a debt does so only for those persons to whom it is related by common ownership;\n(iii) the principal business of the person who is collecting a debt is not the collection of debts; and\n(iv) before collecting a debt, the person files with the Board:\n1. the correct name of the person;\n2. an address and telephone number of a contact person; and\n3. the name of the person’s resident agent.","path":["Article - Business Regulation"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbr\u0026section=7-102","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:23Z","sha256":"5387dcceceaccc95041d8fc9309c23f5372dedff80c877b3168ba4cd94ef753e","source_id":"us-md","stale":false,"prev":"us-md/md.-code-business-regulation-7-101","next":"us-md/md.-code-business-regulation-7-103"},"notice":"GroundRules: Original legal text. Not legal advice."}