§ 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.

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