Each license issued to a service warranty association shall expire on June 1 following the date of issuance. If the association is then qualified therefor under the provisions of the Service Warranty Insurance Act, its license may be renewed annually, upon its request, and upon payment to the Insurance Commissioner of the license fee in the amount of Two Hundred Dollars ($200.00) in advance for each such license year.

Added by Laws 1993, HB 1001, c. 108, § 9, eff. September 1, 1993.