Maryland Financial Institutions Section 12-912

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

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

            (1)      Otherwise is entitled to be licensed;

            (2)      Pays to the Commissioner the renewal fee established under § 12-904 of this subtitle;

            (3)      Files with the Commissioner a surety bond renewal certificate or a new surety bond required under § 12-914 of this subtitle; and

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

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