§ 7–306
Statutes in effect as of October 1, 2026.
Md. Code Ann., Bus. Reg. § 7-306 (2026)
Title 7. Collection Agencies
Subtitle 3. Licenses
§ 7–306LinkCopy Citation
(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)
is otherwise entitled to be licensed;
(2)
pays to the Board a nonrefundable renewal fee set by the Board;
(3)
submits a renewal application in the form and in accordance with the process that the Board requires; and
(4)
files as part of the application a surety bond as required under § 7–304 of this subtitle.
(c)
To the extent required or permitted by NMLS, the Board may determine that licenses issued under this subtitle shall expire on a staggered basis.
(d)
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 § 7–301(d) of this subtitle.