Section 8-404 - Initial fee; assessments. - Maryland Statutes

§ 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.]