(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.
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