(1)

1. (a) A license under this chapter expires annually on August 14. To renew its license under this chapter, on or before July 15 a bail bond surety company shall:

   1. (i) complete and submit a renewal application to the department; and
   2. (ii) pay the department the applicable renewal fee established in accordance with Section 31A-3-103.
2. (b) A bail bond surety company shall renew its license under this chapter annually as established by department rule, regardless of when the license is issued.

(2) A bail bond surety company may apply for reinstatement of an expired bail bond surety company license within one year following the expiration of the license under Subsection (1) by:

1. (a) submitting the renewal application required by Subsection (1); and
2. (b) paying a license reinstatement fee established in accordance with Section 31A-3-103.

(3) If a bail bond surety company license has been expired for more than one year, the person applying for reinstatement of the bail bond surety license shall:

1. (a) submit a new application form to the commissioner; and
2. (b) pay the application fee established in accordance with Section 31A-3-103.