§ 5-111. Term of dealer's license

Latest version.

   (a) In general. -- Unless a dealer's license is renewed for a 1-year term as provided in this section, a dealer's license expires on the first June 30 after its effective date.

(b) Applications for renewal. --

   (1) Before a dealer's license expires, the licensee periodically may renew it for an additional 1-year term, if the licensee:

      (i) is otherwise entitled to be licensed;

      (ii) pays to the Secretary a renewal fee of $ 25, payable to the Comptroller; and

      (iii) submits to the Secretary a renewal application on the form that the Secretary provides.

   (2) A refund or proration of the renewal fee is prohibited.

HISTORY: An. Code 1957, art. 27, § 443(b); 2003, ch. 5, § 2.

                    
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