Section 14-219 - Term and renewal of registration. - Maryland Statutes

§ 14-219. Term and renewal of registration.
 

(a)  Term of registration.-  

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

(2) However, the Commissioner by regulation or order may set a different term of registration. 

(b)  Applications for renewal.-  

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

(i) at least 15 business days before the expiration of registration files with the Commissioner: 

1. a renewal application on the form that the Commissioner provides; and 

2. a prospectus; 

(ii) otherwise is entitled to be registered; and 

(iii) pays a renewal fee of $250. 

(2) The registrant shall sign and verify the renewal application. 

(3) The Commissioner by order may allow a registrant to submit a renewal application after the 15th business day before expiration of the registration. 

(c)  Issuance of renewal.- The Commissioner shall renew the registration of an offer of a franchise if it meets the requirements of this section. 

(d)  Effective date of renewal.- Unless a stop order or other order is in effect under this subtitle, renewal of the registration of the offer of a franchise automatically takes effect at: 

(1) noon on the day when the previous registration is due to expire; or 

(2) an earlier time that the Commissioner sets. 
 

[An. Code 1957, art. 56, §§ 350, 358, 359, 360; 1992, ch. 4 § 2; ch. 26, § 4.]