Md. Code, Fin. Inst. § 11-209 : FINANCIAL INSTITUTIONS — CONSUMER CREDIT — CONSUMER LOANS - LICENSING PROVISIONS —209 - Term and renewal of licenses

(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.

Md. Code, FI § 11-209

Amended by 2017 Md. Laws, Ch. 253,Sec. 1, eff. 7/1/2017.
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