Maryland § 14-219

§ 14-219.

    (a)    (1)    Unless registration of an offer of a franchise is renewed for a 1-year term as provided in this section, the registration expires on the first anniversary of its effective date.

        (2)    However, the Commissioner by regulation or order may set a different term of registration.

    (b)    (1)    Before registration expires, the registrant periodically may renew it for an additional 1-year term, if the registrant:

            (i)    at least 15 business days before the expiration of registration files with the Commissioner:

                1.    a renewal application on the form that the Commissioner provides; and

                2.    a prospectus;

            (ii)    otherwise is entitled to be registered; and

            (iii)    pays a renewal fee of $250.

        (2)    The registrant shall sign and verify the renewal application.

        (3)    The Commissioner by order may allow a registrant to submit a renewal application after the 15th business day before expiration of the registration.

    (c)    The Commissioner shall renew the registration of an offer of a franchise if it meets the requirements of this section.

    (d)    Unless a stop order or other order is in effect under this subtitle, renewal of the registration of the offer of a franchise automatically takes effect at:

        (1)    noon on the day when the previous registration is due to expire; or

        (2)    an earlier time that the Commissioner sets.