Maryland Financial Institutions Section 11-609

      (a)      A license issued on or after October 1, 2006, expires on December 31 in each odd-numbered year after December 31, 2006, 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 $300; and

            (3)      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 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)      Notwithstanding subsections (a) and (b) of this section, the Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.