(a) A licensee may renew a license through the NMLS&R automatic licensing system between November 1 and December 31 of the calendar year by:

1. (1)

   1. (A) Submitting a completed application for renewal in a form provided by the NMLS&R and approved by the Securities Commissioner.
   2. (B) The application shall be accompanied by all information required by Arkansas Code § 23-39-506(a) or this part and shall be verified by:

(i) The oath of the licensee; and

1. (ii) If applicable, a principal officer of the licensee;
2. (2) All licensing fees required by the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq., shall be submitted with the application through NMLS&R;
3. (3) Submitting proof that the loan officer licensee remains eligible under the licensing qualifications of Arkansas Code § 23-39-505(o);
4. (4) Submitting proof that the loan officer licensee has completed all necessary continuing education requirements for the upcoming year;
5. (5) Submitting proof that a mortgage broker, mortgage banker, or mortgage servicer’s surety bond is still in effect; and
6. (6) Providing financial statements of a mortgage banker or mortgage servicer licensee within ninety (90) days of the fiscal year end of the mortgage banker or mortgage servicer.

(b) If the renewal application is not received by December 31, the license shall expire in accordance with Arkansas Code § 23-39-505(j).

1. (c)
2. (1) A renewal application will be accepted by the State Securities Department for fifteen (15) days after December 31, so long as the late fee of one hundred dollars ($100) is submitted with the renewal application.
3. (2) The renewed license will not cover the period from the date the license expired until the date the license renewal is approved.

4. (3) The licensee may not conduct any activity after the license has expired and until the license has been renewed by the department, any activity will be deemed unlicensed activity and will be treated as a violation of the Fair Mortgage Lending Act and this part.

   1. (d) If the licensee does not file a renewal application during the renewal period, or before the end of the late renewal period, the licensee shall be required to file a new application and shall comply with all licensing requirements of a new licensee, where applicable.