Maryland Financial Institutions Section 12-210

      (a)      A permit expires on the second anniversary of its effective date, unless the permit is renewed for a 2-year term as provided in this section.

      (b)      Before its permit expires, the foreign banking corporation may renew the permit for additional 2-year terms if the foreign banking corporation:

            (1)      At least 30 days before its permit expires:

                  (i)      Submits to the Commissioner a renewal application on the form that the Commissioner requires; and

                  (ii)      Pays to the Commissioner the renewal fee set by the Commissioner; and

            (2)      Meets the requirements for issuance of a permit under § 12-209 of this subtitle.

      (c)      The Commissioner shall renew the permit of each foreign banking corporation that meets the requirements of this section.