Section 12-411 - Term and renewal of licenses. - Maryland Statutes

§ 12-411. Term and renewal of licenses.
 

(a)  Term.- A license issued under this subtitle expires on December 31 of each odd-numbered year unless it is renewed for a 2-year term as provided in subsection (b) of this section. 

(b)  Renewal.- On or before December 1 of the year of expiration, a license may be renewed for a 2-year term, if the licensee: 

(1) Otherwise is entitled to be licensed; 

(2) Files evidence of a surety device required under § 12-412 of this subtitle; 

(3) Pays to the Commissioner a renewal fee of $4,000; and 

(4) Submits to the Commissioner: 

(i) A renewal application on the form that the Commissioner requires; and 

(ii) A financial statement that complies with the requirements of § 12-407 (b) (4) of this subtitle. 
 

[An. Code 1957, art. 11, § 217; 1980, ch. 33, § 2; ch. 541; 1996, ch. 326, § 2; 1997, ch. 23; 2002, ch. 539.]