State Codes and Statutes
Statutes > Maryland > Financial-institutions > Title-12 > Subtitle-1 > 12-111§ 12-111. Same - Expiration and renewal.
(a) Expiration.- A license expires on December 31 in each odd-numbered year unless it is renewed for a 2-year term as provided in this section.
(b) Renewal.- On or before December 1 of the year of expiration, a license may be renewed for an additional 2-year term, if the licensee:
(1) Otherwise is entitled to be licensed;
(2) Pays to the Commissioner a renewal fee of $1,000; and
(3) Submits to the Commissioner a renewal application on the form that the Commissioner requires.
(c) Applicability of § 12-106.- The Commissioner shall determine if the requirements of § 12-106 of this subtitle to qualify for a license continue to apply.
(d) Expiration on staggered basis.- The Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.
[2000, ch. 614, § 2.]
