Maryland Financial Institutions Section 12-111

      (a)      A license expires on December 31 in each odd-numbered year unless it is renewed for a 2-year term as provided in this section.

      (b)      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 $1,000; and

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

      (c)      The Commissioner shall determine if the requirements of § 12-106 of this subtitle to qualify for a license continue to apply.

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