Maryland Financial Institutions Section 11-511

      (a)      (1)      A license issued on or before September 30, 1997 expires on December 31 of the year in which it was issued, unless the license is renewed for a 2-year term, as provided in this section.

            (2)      A license issued on or after October 1, 1997 expires on December 31 in each odd-numbered year after December 31, 1997 unless the license 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;

            (3)      Files a bond or bond continuation certificate for the amount required under § 11-508 of this subtitle; and

            (4)      Submits to the Commissioner:

                  (i)      A renewal application on the form that the Commissioner requires; and

                  (ii)      Satisfactory evidence of compliance with any continuing education requirements set by regulations adopted by the Commissioner.

      (c)      If a license is issued for less than 2 full years and is surrendered voluntarily, or is suspended or revoked, the Commissioner may not refund any part of the license fee regardless of the time remaining in the license term.

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