Md. Code Regs. 09.11.01.20

Current through Register Vol. 51, No. 12, June 14, 2024

Section 09.11.01.20 - Interest on Guaranty Fund Reimbursements

A. Unless revoked by a final order of the Commission, a licensee is suspended by operation of law under Business Occupations and Professions Article, § 17-412, Annotated Code of Maryland, upon payment from the Guaranty Fund due to the conduct of a licensee. The Commission may not consider any application for reinstatement until the amount paid from the Fund because of that conduct is repaid in full, plus 12 percent interest from the time payment is made, under Business and Professions Article, §17-411(a), Annotated Code of Maryland.

B. For purposes of this regulation only, the term "application for reinstatement" may include a written request for reissuance of a license at the discretion of the Commission.

Regulations .20 effective April 25, 1972; repealed effective October 26, 1981 (8:21 Md. R. 1706); recodified from .23 effective 44:8 Md. R. 401, eff. 7/1/2017