State Codes and Statutes
Statutes > Maryland > Business-regulation > Title-8 > Subtitle-4 > 8-404§ 8-404. Initial fee; assessments.
(a) Initial fee.- Before the Commission issues a contractor license, the contractor shall pay a fee of $100 to be credited to the Fund.
(b) Assessments.-
(1) If the Commission finds that, because of pending claims, the amount of the Fund may fall below $250,000, the Commission shall assess each contractor a fee of $50.
(2) However, under this subsection the Commission may not assess a contractor more than $150 in a calendar year.
(c) Failure to pay assessment.- If a contractor fails to pay an assessment within 60 days after notice of the assessment, the contractor license is suspended until the assessment is paid.
[An. Code 1957, art. 56, § 257C; 1992, ch. 4, § 2.]
