Maryland Statutes
Subtitle 2 - Consumer Loans -- Licensing Provisions
Section 11-209 - Term and Renewal of Licenses

(a)    An initial license term shall:
        (1)    Begin on the date the license is issued; and
        (2)    Expire on December 31 of the year:
            (i)    In which the license is issued, if the license is issued before November 1; or
            (ii)    Immediately following the year in which the license is issued, if the license is issued on or after November 1.
    (b)    On or after November 1 of the year in which a license expires, the license may be renewed for an additional 1–year term, if the licensee:
        (1)    Otherwise is entitled to be licensed;
        (2)    Pays to the Commissioner a renewal fee of $850; and
        (3)    Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.
    (c)    The Commissioner may waive the requirements of § 11–205(1) and (2) of this subtitle for the renewal of a license.
    (d)    To the extent required or permitted by NMLS, the Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.
    (e)    A licensee may not renew a license unless, before the submission of the license renewal application, the licensee has transferred the licensee’s licensing information to NMLS in accordance with § 11–203.1(c) of this subtitle.

Structure Maryland Statutes