(1) A license under this chapter shall be renewed annually.
- (a) The director shall establish an annual renewal fee, not to exceed one thousand dollars, by rule promulgated pursuant to chapter 1-26.
- (b) The annual renewal fee must be paid no more than sixty days before the license expiration.
- (c) The renewal term shall be for a period of one year and shall begin on January first of each year after the initial license term and shall expire on December thirty-first of the year the renewal term begins.
- (2) A licensee shall submit a renewal report with the renewal fee in a form and in a medium prescribed by the director. 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 director.
- (3) The director for good cause may grant an extension of the renewal date.
- (4) The director is authorized and encouraged to utilize NMLS to process license renewals provided that such functionality is consistent with this section.
Source: SL 2024, ch 196 , § 19.