Each wholesale drug distributor license expires on December thirty-first following the date of issuance. The board shall provide an application for license renewal to each licensee before December first of each year. To renew a license, the licensee shall submit the renewal application and pay the annual license fee set by the board as provided in § 36-11A-8. If application for renewal of the license accompanied by the annual license fee is not made before the expiration date, the existing license lapses on the date of expiration. If the board receives a renewal application and fee for an expired license, the board must assess a fifty-dollar late fee and may reinstate the license. If the majority of ownership of a licensed facility changes, the new owners must, within thirty days after the ownership change:

1. (1) Submit a renewal application, indicating the change of ownership; and
2. (2) Pay a fee equal to the annual license fee.

Source: SL 1991, ch 307 , § 13; SL 2017, ch 174 , § 11; SL 2025, ch 154 , § 34.