(a) Beginning July 1, 2025, a person may not engage in the business of an energy vendor in the State unless the person holds a license issued by the Commission. (b) (1) An application for an energy vendor license shall: (i) be made to the Commission in writing on a form adopted by the Commission; (ii) be verified by oath or affirmation; and (iii) contain information that the Commission requires, including payment of the applicable licensing fee. (2) (i) The term of an energy vendor license is 3 years. (ii) The terms of licenses may be staggered as determined by the Commission. (iii) Unless a license is renewed for a 3-year term in accordance with this subsection, the license expires on the date that the Commission sets. (iv) A licensee may renew a license for a 3-year term before the license expires if the licensee: 1. otherwise is entitled to be licensed; 2. submits to the Commission a renewal application on the form that the Commission provides; and 3. pays to the Commission the applicable renewal fee set by the Commission. (c) The Commission shall, by regulation or order: (1) require proof of financial integrity; (2) require a licensee to post a bond or other similar instrument if, in the Commission's judgment, the bond or similar instrument is necessary to ensure an energy vendor's financial integrity; and (3) adopt any other requirements the Commission finds to be in the public interest. (d) A license issued under this section may not be transferred without prior Commission approval.
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