{"data":{"id":"us-md/md.-code-business-occupations-and-professions-17-403","jurisdiction":"us-md","citation":"Md. Code, Business Occupations and Professions § 17–403","heading":"","body":"(a) (1) Subject to paragraph (2) of this subsection, before the Commission issues a real estate broker license, an associate real estate broker license, or a real estate salesperson license to any individual, the individual shall pay a fee of $20 to be credited to the Guaranty Fund.\n(2) Regardless of how many times an individual applies to the Commission for a license under this title, the Commission may charge the individual only once for the fee required under this subsection.\n(b) If the amount in the Guaranty Fund falls below $300,000, and the Commission is projected to have an operating surplus of at least $500,000 in the current fiscal year, the Commission may transfer up to $500,000 to the Guaranty Fund from the State Real Estate Commission Fund established under § 2–106.3 of the Business Regulation Article.\n(c) If the amount in the Guaranty Fund falls below $250,000, the Commission shall assess each real estate broker, each associate real estate broker, and each real estate salesperson a fee in an amount that will return the Guaranty Fund to a level of at least $250,000.","path":["Article - Business Occupations and Professions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbo\u0026section=17-403","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:13Z","sha256":"d63964701a1e38018ac45428d2372982b6ceef4cedcae905e4b3a0449366fcf1","source_id":"us-md","stale":false,"prev":"us-md/md.-code-business-occupations-and-professions-17-402","next":"us-md/md.-code-business-occupations-and-professions-17-404"},"notice":"GroundRules: Original legal text. Not legal advice."}