The Unit shall register and issue a home builder registration number to an applicant for a home builder registration that: meets the requirements of this title; and pays to the Division an initial nonrefundable 2–year registration fee of $800. A home builder registration issued under this title may not be transferred, assigned, or pledged. A valid home builder registration authorizes the registrant to act as a home builder in the State. A home builder that holds a license or registration in Montgomery County may act as a home builder in that county only, unless the home builder is also registered under this title. A home builder that holds a license or registration in Montgomery County and is not registered under this title is subject to Subtitle 7 of this title. In addition to the county license or registration fee, a home builder that is required to hold a license or registration only in Montgomery County shall pay to the county a Guaranty Fund administrative fee of $250. The county shall remit the Guaranty Fund administrative fee to the Unit to be deposited in the Registration Fund.