Unannotated Code of Maryland (Last Updated: May 16, 2014) |
FINANCIAL INSTITUTIONS |
TITLE 12. MISCELLANEOUS INSTITUTIONS AND ACTIVITIES |
SUBTITLE 9. MARYLAND DEBT MANAGEMENT SERVICES ACT |
§ 12-912. Expiration and renewal of license
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(a) In general. -- 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) Pays to the Commissioner the renewal fee established under § 12-904 of this subtitle;
(3) Files with the Commissioner a surety bond renewal certificate or a new surety bond required under § 12-914 of this subtitle; and
(4) Submits to the Commissioner a renewal application on the form that the Commissioner requires.
(c) Staggered expirations. -- The Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.