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Maryland Code, Business Regulation § 8-404

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Before the Commission issues a contractor license, the contractor shall pay a fee of $100 to be credited to the Fund.

(b)(1) If the Commission finds that, because of pending claims, the amount of the Fund may fall below $1,000,000, the Commission shall assess each contractor a fee of $50.

(2) However, under this subsection the Commission may not assess a contractor more than $150 in a calendar year.

(c) If a contractor fails to pay an assessment within 60 days after notice of the assessment, the contractor license is suspended until the assessment is paid.

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Cite this article: FindLaw.com - Maryland Code, Business Regulation § 8-404 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-8-404/

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