Maryland Statutes
Subtitle 3 - Licenses
Section 7-306 - Licenses -- Term; Renewal; Expiration

(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)    is otherwise entitled to be licensed;
        (2)    pays to the Board a nonrefundable renewal fee set by the Board;
        (3)    submits a renewal application in the form and in accordance with the process that the Board requires; and
        (4)    files as part of the application a surety bond as required under § 7–304 of this subtitle.
    (c)    To the extent required or permitted by NMLS, the Board may determine that licenses issued under this subtitle shall expire on a staggered basis.
    (d)    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 § 7–301(d) of this subtitle.

Structure Maryland Statutes