Maryland Financial Institutions Section 11-409
(a)   (1)   A license issued on or before September 30, 1997 expires on December 31 of the year in which it was issued.
(2)   A license issued on or after October 1, 1997 expires on December 31 in each odd-numbered year after December 31, 1997.
(b)   Before a license expires, the licensee may apply for a new license.
(c)   The Secretary may determine that licenses issued under this subtitle shall expire on a staggered basis.