Maryland Financial Institutions Section 12-411

      (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)      Files evidence of a surety device required under § 12-412 of this subtitle;

            (3)      Pays to the Commissioner a renewal fee of $4,000; and

            (4)      Submits to the Commissioner:

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

                  (ii)      A financial statement that complies with the requirements of § 12-407(b)(4) of this subtitle.