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§ 8-509. Expiration and renewal of license

West's Annotated Code of MarylandInsuranceEffective: October 1, 2021

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 5. Reinsurance Intermediaries (Refs & Annos)
Effective: October 1, 2021
MD Code, Insurance, § 8-509
§ 8-509. Expiration and renewal of license
Currentness
Expiration date
(a) A license expires on the first July 1 after its effective date and in an odd-numbered year, unless it is renewed for a 2-year term as provided in this section.
Renewal notice
(b) At least 1 month before a license expires, the Commissioner shall mail to the licensee, at the last known address of the licensee, or send by electronic means in accordance with § 2-116 of this article:
(1) a renewal application form; and
(2) a notice that states:
(i) the date by which the Commissioner must receive the renewal application for the renewal to be issued and mailed before the license expires; and
(ii) the amount of the renewal fee.
Renewal of license
(c) Before a license expires, the licensee may renew it for an additional 2-year term, if the licensee:
(1) otherwise is entitled to be licensed;
(2) files with the Commissioner a renewal application on the form that the Commissioner provides; and
(3) pays to the Commissioner the applicable renewal fee for an insurance producer under § 2-112 of this article.
Duty of Commissioner to renew license of qualified licensees
(d) The Commissioner shall renew the license of each licensee who meets the requirements of this section.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001; Acts 2021, c. 105, § 1, eff. Oct. 1, 2021.
Formerly Art. 48A, § 721.
MD Code, Insurance, § 8-509, MD INSURANCE § 8-509
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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