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§ 11-209. Term and renewal of licenses

MD Fin Inst Code § 11-209 (2019) (N/A)
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(a)    An initial license term shall:

(1)    Begin on the date the license is issued; and

(2)    Expire on December 31 of the year:

(i)    In which the license is issued, if the license is issued before November 1; or

(ii)    Immediately following the year in which the license is issued, if the license is issued on or after November 1.

(b)    On or after November 1 of the year in which a license expires, the license may be renewed for an additional 1–year term, if the licensee:

(1)    Otherwise is entitled to be licensed;

(2)    Pays to the Commissioner a renewal fee of $850; and

(3)    Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.

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

(d)    To the extent required or permitted by NMLS, the Commissioner may determine that licenses issued under this subtitle shall expire on a staggered basis.

(e)    A licensee may not renew a license unless, before the submission of the license renewal application, the licensee has transferred the licensee’s licensing information to NMLS in accordance with § 11–203.1(c) of this subtitle.

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§ 11-208. Contents and scope of licenses; additional licenses
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§ 11-209.1. Surrender of license.