(A) A license issued under this chapter must be renewed annually.
- (1) An annual renewal fee of one thousand six hundred dollars must be paid no more than sixty days before the license expiration.
- (2) The renewal term must be for a period of one year and begins on January first of each year after the initial license term and expires on December thirty-first of the year the renewal term begins.
- (B) A licensee under this article shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the Commissioner. The renewal report must state or contain a description of each material change in information submitted by the licensee in its original license application which has not been reported to the Commissioner on a required report.
- (C) The Commissioner for good cause may grant an extension of the renewal date.
- (D) The Commissioner is authorized and encouraged to utilize NMLS to process license renewals provided that such functionality is consistent with this section.
HISTORY: 2016 Act No. 266 (H.4554), Section 1, eff May 25, 2018; 2024 Act No. 218 (S.1031), Section 1, eff July 2, 2024.
Effect of Amendment
2024 Act No. 218, Section 1, rewrote the section.