1. (a) A license expires on the first December 31 after its effective date unless it is renewed as provided in this section.

2. (b) At least 1 month before a license expires, the Commissioner shall send to the licensee, at the last known address of the licensee or electronic mail address of the holder on record a notice that states:

   1. (1) the process for renewing the license;
   2. (2) the date by which the Commissioner must receive the renewal application; and
   3. (3) the amount of the renewal fee.

3. (c) Before a license expires, the licensee may renew it for an additional 1-year term if the holder:

   1. (1) otherwise is entitled to a license;

   2. (2) files with the Commissioner a renewal application:

      1. (i) on the form that the Commissioner provides; or
      2. (ii) in an electronic format that the Commissioner approves;
   3. (3) files with the Commissioner the fees to be charged to members;
   4. (4) provides a financial statement as required under § 26-203(c)(3) of this subtitle; and
   5. (5) pays to the Commissioner a renewal fee of $100.
4. (d) The Commissioner shall renew the license of each licensee that meets the requirements of this section.

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 2015, c. 39, § 1, eff. Oct. 1, 2015; Acts 2016, c. 84, § 1, eff. Jan. 1, 2017.

Formerly Art. 48B, §§ 2, 4.