§ 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.

HISTORY: An. Code 1957, art. 56, § 257C; 1992, ch. 4, § 2.