(a)Licenses shall be renewed every year using the common renewal date of the Nationwide Multistate Licensing System and Registry, as required by the Secretary. Properly completed renewal application forms and filing fees may be received by the Secretary 60 days before the license expiration date, but to be deemed timely the completed renewal application forms and filing fees must be received by the Secretary no later than 30 days before the license expiration date.
(b)It shall be the responsibility of each licensee to accomplish renewal of its license. Failure by a licensee to submit a properly completed renewal application form and fees in a timely fashion, absent a written extension from the Secretary, shall result in the license becoming inactive.
(c)No activity regulated by this Act
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(a) Licenses shall be renewed every year using the common renewal date of the Nationwide Multistate Licensing System and Registry, as required by the Secretary. Properly completed renewal application forms and filing fees may be received by the Secretary 60 days before the license expiration date, but to be deemed timely the completed renewal application forms and filing fees must be received by the Secretary no later than 30 days before the license expiration date. (b) It shall be the responsibility of each licensee to accomplish renewal of its license. Failure by a licensee to submit a properly completed renewal application form and fees in a timely fashion, absent a written extension from the Secretary, shall result in the license becoming inactive. (c) No activity regulated by this Act shall be conducted by the licensee when a license becomes inactive. An inactive license may be reactivated by the Secretary upon payment of a renewal fee and payment of a reactivation fee equal to the renewal fee. (d) A licensee ceasing an activity or activities regulated by this Act and desiring to no longer be licensed shall inform the Secretary in writing and, at the same time, convey any license issued and all other symbols or indicia of licensure. The licensee shall include a plan for the withdrawal from the regulated business, including a timetable for the disposition of the business, and comply with the surrender guidelines or rules of the Department. Upon receipt of such written notice, the Secretary shall post the cancellation or issue a certified statement canceling the license. (e) The expenses of administering this Act, including investigations and examinations provided for in this Act, shall be borne by and assessed against entities regulated by this Act. The fees listed in this Section shall be payable to the Department or to the Nationwide Multistate Licensing System and Registry for transfer to the required recipients by the Secretary. The Secretary will specify the form of payment to the Department or to the Nationwide Multistate Licensing System and Registry, which may include certified check, money order, credit card, or other forms of payment authorized by the Secretary. The Nationwide Multistate Licensing System and Registry shall be authorized to collect and process transaction fees or other fees related to licensees or other persons subject to the Act. (f) Applicants and licensees shall be subject to the following fees: (1) For each application for an initial license, the applicant shall pay a nonrefundable initial application fee of $1,000 and a nonrefundable background investigation fee of $800. (2) For each application for an annual renewal of a license, the applicant shall pay a nonrefundable renewal fee of $1,000. For each application for a renewal of an inactive license, the applicant shall pay the nonrefundable renewal fee of $1,000 and an additional nonrefundable reactivation fee equal to the renewal fee. (3) The licensee shall pay a nonrefundable fee of $1,000 for each notice of change of ownership or control filed. (4) The licensee shall pay a nonrefundable fee of $50 for each notice of change of officers or directors or change of name or address filed. (5) Any licensee or person who delivers a check or other payment to the Department that is returned unpaid by the financial institution upon which it is drawn shall pay to the Department, in addition to the amount already owed, a fee of $50. (6) Time expended in the conduct of any examination of the affairs of any licensee or its affiliates shall be billed by the Department at a rate of $510 per examiner day. Examination fees shall be billed following completion of the examination and shall be paid within 30 days after receipt of the billing. (7) If out-of-state travel occurs in the conduct of any examination, the licensee shall make arrangements to reimburse the Department for all charges for services, including travel expenses, including airfare, hotel and per diem expenses incurred by the employee. These expenses are to be in accord with applicable travel regulations published by the Department of Central Management Services and approved by the Governor's Travel Control Board. (8) Each licensee shall pay to the Department its pro rata share of the cost for administration of the Act that exceeds other fees listed in this Section, as estimated by the Department, for the current year and any deficit actually incurred in the administration of the Act in prior years. The calculation method for each licensee's pro rata share shall be established by rule. (g) Beginning one year after the effective date of this Act, the Department may, by rule, amend the fees set forth in this Section.