§ 15-19-6-12 — Determination of renewal date

(a) By January 1 of each fifth year following
the original recording with the board, each owner of a brand of record
shall submit to the board a renewal fee to be established by the board.
(b) For the purpose of determining the renewal date, the period
between the date a brand is recorded by the board and January 1 of the
next year constitutes the first year of the five (5) year period.
(c) If the owner of a brand of record fails, refuses, or neglects to pay
the fee by June 30 of the year in which it is due, the brand shall be
forfeited and no longer carried in the record. A forfeited brand may not
be issued to another person for five (5) years after the date of forfeiture.
During that five (5) year period, the former owner of record may apply
to the commission for reinstatement of the forfeited brand. An
application for reinstatement must be accompanied by a reinstatement
fee established by the board. The renewal date for a reinstatement
brand remains the same.
(d) Renewal fees on reinstatement brands are due on January 1 of
each fifth year following the original recording.
[Pre-2008 Recodification Citation: 15-5-14-8.]

Legislative History

As added by P.L.2-2008, SEC.10.