Section 5-111 - Term of dealer's license.
§ 5-111. Term of dealer's license.
(a) In general.- Unless a dealer's license is renewed for a 1-year term as provided in this section, a dealer's license expires on the first June 30 after its effective date.
(b) Applications for renewal.-
(1) Before a dealer's license expires, the licensee periodically may renew it for an additional 1-year term, if the licensee:
(i) is otherwise entitled to be licensed;
(ii) pays to the Secretary a renewal fee of $25, payable to the Comptroller; and
(iii) submits to the Secretary a renewal application on the form that the Secretary provides.
(2) A refund or proration of the renewal fee is prohibited.
[An. Code 1957, art. 27, § 443(b); 2003, ch. 5, § 2.]