1. 1. No person shall engage in the business of a premium finance company in this state without first registering as a premium finance company with the director.
2. 2. The annual registration fee shall be five hundred dollars payable to the director as of the first day of July of each year. The director may establish a biennial licensing arrangement but in no case shall the fees be payable for more than one year at a time.

3. 3. Registration shall be made on forms prepared by the director and shall contain the following information:

   1. (1) Name, business address and telephone number of the premium finance company;
   2. (2) Name and business address of corporate officers and directors or principals or partners;

   3. (3) A sworn statement by an appropriate officer, principal or partner of the premium finance company that:

      1. (a) The premium finance company is financially capable to engage in the business of insurance premium financing; and
      2. (b) If a corporation, that the corporation is authorized to transact business in this state;
   4. (4) If any material change occurs in the information contained in the registration form, a revised statement shall be submitted to the director accompanied by an additional fee of three hundred dollars.

(L. 1984 S.B. 686 § 2, A.L. 1986 H.B. 1195, A.L. 2003 S.B. 346, A.L. 2015 H.B. 587 merged with S.B. 345)

Effective 8-28-15 (H.B. 587)

*10-16-15 (S.B. 345), see § 21.250. S.B. 345 was vetoed July 7, 2015. The veto was overridden September 16, 2015.