Except as provided in §§ 10–14A–03 and 10–14B–03 of the State Government Article, beginning July 1, 2025, a person may not engage in the business of an energy vendor in the State unless the person holds a license issued by the Commission. An application for an energy vendor license shall: be made to the Commission in writing on a form adopted by the Commission; be verified by oath or affirmation; and contain information that the Commission requires, including payment of the applicable licensing fee. The term of an energy vendor license is 3 years. The terms of licenses may be staggered as determined by the Commission. Unless a license is renewed for a 3–year term in accordance with this subsection, the license expires on the date that the Commission sets. A licensee may renew a license for a 3–year term before the license expires if the licensee: otherwise is entitled to be licensed; submits to the Commission a renewal application on the form that the Commission provides; and pays to the Commission the applicable renewal fee set by the Commission. The Commission shall, by regulation or order: require proof of financial integrity; require a licensee to post a bond or other similar instrument if, in the Commission’s judgment, the bond or similar instrument is necessary to ensure an energy vendor’s financial integrity; and adopt any other requirements the Commission finds to be in the public interest. A license issued under this section may not be transferred without prior Commission approval.