§ 23-55-404 — Renewal of license

(a) A licensee under this article shall pay an annual renewal fee of $375 no later than December 31 in order to be licensed for the next calendar year. (b) A licensee under this article shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the commissioner. The renewal report must contain a list of the locations in this State where the licensee or an authorized delegate of the licensee engages in currency exchange, including limited stations and mobile locations. (c) A licensee may renew a license after the time specified in subsection (a) if the licensee renews within thirty (30) days of the renewal date by: (1) paying $375 as required under subsection (a); (2) complying with the requirements in subsection (b); and (3) paying a late fee of $250 so long as the complete renewal application is received. (d) (1) The commissioner for good cause may grant an extension of the renewal date. (2) If a licensee has not renewed a license within thirty (30) days of the renewal date and has not shown good cause to receive an extension of the renewal date as described under subdivision (d)(1), then it shall be necessary for the licensee to submit a new application to engage in the business of currency exchange.

Legislative History

Amended by Act 2021, No. 532,§ 14, eff. 7/28/2021. Amended by Act 2019, No. 111,§ 7, eff. 7/24/2019. Acts 2007, No. 1595, § 1; 2009, No. 486, § 12; 2011, No. 733, § 9.