Maryland Code, FINANCIAL INSTITUTIONS 11-407
(b) The Commissioner shall approve or deny each application for a license within 60 days after the date on which the complete application is filed and the fees are paid.
(c) The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle.
(d) (1) If the Commissioner denies an application, the Commissioner shall:
(i) Notify the applicant of the denial;
(ii) Refund the license fee to the applicant; and
(iii) Keep the investigation fee and any charges collected under § 11-406 of this subtitle.
(2) (i) Within 20 days after the Commissioner denies an application, the Commissioner shall send a written notice to the applicant stating the reasons for the denial.
(ii) The notice shall be sent by United States mail, e-mail, or any means provided through NMLS to the address listed on the application.