§ 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.

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