2010 Maryland Code
FINANCIAL INSTITUTIONS
TITLE 11 - CONSUMER CREDIT
Subtitle 2 - Consumer Loans - Licensing Provisions
Section 11-209 - Term and renewal of licenses.

§ 11-209. Term and renewal of licenses.
 

(a)  Term.- A license issued before September 30, 1997 expires on the June 30 after its effective date, unless it is renewed on or before June 1 of the year of expiration for an additional term as provided in this section. 

(b)  Expiration.- A license issued on or after October 1, 1997 expires on December 31 in each odd-numbered year after December 31, 1997, unless it is renewed for a 2-year term as provided in this section. 

(c)  Application for renewal.- 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 $1,700; and 

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

(d)  Waiver of requirements.- The Commissioner may waive the requirements of § 11-205 (1) and (2) of this subtitle for the renewal of a license. 

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

[An. Code 1957, art. 58A, §§ 4, 5; 1980, ch. 33, § 2; 1997, ch. 22.]