.05 Issuance, Term, and Renewal of Limited Lines License.

A. Issuance. The Commissioner shall issue a limited lines license to each applicant who meets the requirements of Regulation .04 of this chapter and Insurance Article, §§10-603 and 10-604, Annotated Code of Maryland.

B. Term and Renewal. A limited lines license expires every other year on the anniversary date of the issuance of the license unless renewed as provided in Insurance Article, §10-115, Annotated Code of Maryland.