1. (a) License term and renewal. A new license is effective from the date of its issuance until October 31. A license must be renewed annually to remain effective. After renewal, a license is effective for a term of one year, from November 1 of a calendar year to October 31 of the next calendar year.
2. (b) Due date for annual assessment fee. The annual assessment fee is due by October 1 of each year.

3. (c) Notice of delinquency. If a licensee does not pay the annual assessment fee, the OCCC will send a notice of delinquency. Notice of delinquency is given when the OCCC sends the notice:

   1. (1) by mail to the address on file with the OCCC as a master file address; or
   2. (2) by e-mail to the address on file with the OCCC as a master file e-mail address, if the licensee has provided a master file e-mail address.

4. (d) Expiration. If a licensee does not pay the annual assessment fee, the license will expire on the later of:

   1. (1) October 31 of each year; or
   2. (2) the 16th day after notice of delinquency is given under subsection (c) of this section.
5. (e) Reinstatement. As provided by Texas Finance Code, §349.301 and §349.303(a), if a license was in good standing when it expired, a person may reinstate the expired license not later than the 180th day after its expiration date by paying the annual assessment fee and a $1,000 late filing fee. The late filing fee for a registered office is $250 under Texas Finance Code, §349.302.

Source Note:The provisions of this §84.617 adopted to be effective September 5, 2019, 44 TexReg 4717; amended to be effective November 14, 2024, 49 TexReg 8853.