§5–111.

    (a)    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)    (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.