Subd. 1. Term.

Licenses for mortgage loan originators issued under this chapter expire on December 31 and are renewable on January 1 of each year after that date.

Subd. 2. Fees.

The following fees must be paid to the commissioner:

1. (1) for a mortgage loan originator license, $90; and
2. (2) for a renewal mortgage loan originator license, $50.