Maryland Financial Institutions Section 11-209

      (a)      A license issued before September 30, 1997 expires on the June 30 after its effective date, unless it is renewed on or before June 1 of the year of expiration for an additional term as provided in this section.

      (b)      A license issued on or after October 1, 1997 expires on December 31 in each odd-numbered year after December 31, 1997, unless it is renewed for a 2-year term as provided in this section.

      (c)      On or before December 1 of the year of expiration, a license may be renewed for an additional 2-year term, if the licensee:

            (1)      Otherwise is entitled to be licensed;

            (2)      Pays to the Commissioner a renewal fee of $1,700; and

            (3)      Submits to the Commissioner a renewal application on the form that the Commissioner requires.

      (d)      The Commissioner may waive the requirements of § 11-205(1) and (2) of this subtitle for the renewal of a license.

      (e)      The Secretary may determine that licenses issued under this subtitle shall expire on a staggered basis.