Section 8-509 - Term and renewal of license. - Maryland Statutes

§ 8-509. Term and renewal of license.
 

(a)  Term of license.- A license expires on the first July 1 after its effective date and in an odd-numbered year, unless it is renewed for a 2-year term as provided in this section. 

(b)  Renewal notice.- At least 1 month before a license expires, the Commissioner shall mail to the licensee, at the last known address of the licensee: 

(1) a renewal application form; and 

(2) a notice that states: 

(i) the date by which the Commissioner must receive the renewal application for the renewal to be issued and mailed before the license expires; and 

(ii) the amount of the renewal fee. 

(c)  Applications for renewal.- Before a license expires, the licensee may renew it for an additional 2-year term, if the licensee: 

(1) otherwise is entitled to be licensed; 

(2) files with the Commissioner a renewal application on the form that the Commissioner provides; and 

(3) pays to the Commissioner the applicable renewal fee for an insurance producer under § 2-112 of this article. 

(d)  Issuance of renewal.- The Commissioner shall renew the license of each licensee who meets the requirements of this section. 
 

[An. Code 1957, art. 48A, § 721; 1995, ch. 36; 2001, ch. 731, § 1.]