PARRIS N. GLENDENING, Governor                                   Ch. 11

26-304. LICENSEE BOUND BY ACTS OF REGISTERED REPRESENTATIVE.

WHILE A REPRESENTATIVE'S REGISTRATION REMAINS IN EFFECT, A LICENSEE
IS BOUND BY THE ACTS OF THE REPRESENTATIVE NAMED IN THE REGISTRATION
CERTIFICATE WITHIN THE REPRESENTATIVE'S APPARENT OR ACTUAL AUTHORITY.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48B, § 8(f).

Defined terms: "Licensee" § 26-101
"Representative" § 26-101

26-305. TERM AND RENEWAL OF REGISTRATION.

(A)     TERM OF REGISTRATION.

A REGISTRATION EXPIRES ON THE FIRST AUGUST 31 AFTER ITS EFFECTIVE
DATE UNLESS IT IS RENEWED AS PROVIDED IN THIS SECTION.

(B)     RENEWAL NOTICE.

AT LEAST 1 MONTH BEFORE A REGISTRATION EXPIRES, THE COMMISSIONER
SHALL MAIL TO THE LICENSEE, AT THE LAST KNOWN ADDRESS OF THE LICENSEE:

(1)      A RENEWAL APPLICATION FORM; AND

(2)      A NOTICE THAT STATES:

(I)       THE DATE ON WHICH THE CURRENT REGISTRATION EXPIRES;

(II)     THE DATE BY WHICH THE COMMISSIONER MUST RECEIVE THE
RENEWAL APPLICATION FOR THE RENEWAL TO BE ISSUED AND MAILED BEFORE
THE REGISTRATION EXPIRES; AND

(III)   THE AMOUNT OF THE RENEWAL FEE.

(C)     APPLICATIONS FOR RENEWAL.

BEFORE A REGISTRATION EXPIRES, THE LICENSEE MAY RENEW THE
REGISTRATION OF A REPRESENTATIVE FOR AN ADDITIONAL 1-YEAR TERM IF:

(1)      THE REPRESENTATIVE OTHERWISE IS ENTITLED TO A
REGISTRATION;

(2)      THE LICENSEE FILES WITH THE COMMISSIONER A RENEWAL
APPLICATION ON THE FORM THAT THE COMMISSIONER PROVIDES; AND

(3)      THE LICENSEE PAYS TO THE COMMISSIONER A REGISTRATION
RENEWAL FEE OF $2.

(D)     ISSUANCE OF RENEWAL.

THE COMMISSIONER SHALL RENEW THE REGISTRATION OF A
REPRESENTATIVE IF THE LICENSEE AND REPRESENTATIVE MEET THE
REQUIREMENTS OF THIS SECTION.

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