Section 14-117 - Renewal. - Maryland Statutes

§ 14-117. Renewal.
 

(a)  Expiration of registration.- Unless the registration of a business opportunity is renewed for a 1-year term as provided in this section, the registration expires on the first anniversary of its effective date. 

(b)  Qualifications for renewal.- Before the registration expires, the registrant periodically may renew it for an additional 1-year term, if the registrant: 

(1) files with the Commissioner: 

(i) a renewal application on the form that the Commissioner provides; 

(ii) a current disclosure document along with any other documents or information that the Commissioner may require by order or regulation; and 

(iii) proof that the seller has satisfied the bond and trust account requirements under § 14-115 of this subtitle; and 

(2) pays a renewal fee of $100. 

(c)  Renewal of registration.- The Commissioner shall renew the registration of a business opportunity if the registrant complies with the requirements of this section. 
 

[An. Code 1957, art. 56, § 410; 1992, ch. 4, § 2; ch. 26, § 4; 1996, ch. 517.]