1. (a) Before the Commission issues a contractor license, the contractor shall pay a fee of $100 to be credited to the Fund.

2. (b)

   1. (1) If the Commission finds that, because of pending claims, the amount of the Fund may fall below $1,000,000, the Commission shall assess each contractor a fee of $50.
   2. (2) However, under this subsection the Commission may not assess a contractor more than $150 in a calendar year.
3. (c) If a contractor fails to pay an assessment within 60 days after notice of the assessment, the contractor license is suspended until the assessment is paid.

Added by Acts 1992, c. 4, § 2. Amended by Acts 2023, c. 415, § 1, eff. July 1, 2023.

Formerly Art. 56, § 257C.