Section 5-111 - Term of dealer's license(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.