§ 14-219
217 words·~1 min read·
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§14–219.
(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.
(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.