S.C. Code Ann. § 40-58-110 – First time licensees' processing fee; annual renewal of license; renewal fee; failure to renew; penalties; use of fees

(A) In addition to the initial license application fee of five hundred fifty dollars required by Section 40-58-50, first time licensees also shall pay a one-time, nonrefundable processing fee of two hundred dollars. Thereafter, a licensee shall pay an annual renewal fee of five hundred fifty dollars. A licensee shall pay an initial fee of one hundred fifty dollars and, thereafter, a renewal fee of one hundred fifty dollars for each satellite location. The broker shall notify the department in writing ten days before opening a new, official branch or satellite location. No initial fee is required when the licensee notifies the department of a change in address for an official branch or satellite location.
(B) The term of each license is one year. Licenses issued under this chapter expire on September thirtieth each year and must be renewed in accordance with the provisions of this section.
(C) Failure to renew a license within thirty days of its expiration results in the license being canceled by the department. A license may be renewed after the thirty-day grace period provided the renewal is accompanied by a late penalty of two hundred fifty dollars in addition to the five hundred fifty dollar license renewal fee. All renewable applications must contain information required by the department. All fees collected by the department pursuant to this chapter must be used to implement the provisions of this chapter.