§ 28-8-4.1-506 — Annual license renewal; fee; term of renewal; renewal report; director's use of the NMLS

Indiana § 28-8-4.1-506

• Jurisdiction: Indiana
• Art. 8: FINANCIAL SERVICES
• Ch. 4.1: Money Transmission Modernization Act

Text

(a) A license under this chapter shall be
renewed annually as follows:
(1) An annual renewal fee, as set by the department, shall be paid
not later than December 31 of each year.
(2) The renewal term is for a period of one (1) year and:
(A) begins on January 1 of each year after the initial license
term; and
(B) expires on December 31 of the year the renewal term
begins.
(b) A licensee shall submit a renewal report with the renewal fee, in
a form and by a medium prescribed by the director. The renewal report
must state or contain a description of each material change in the
information submitted by the licensee in its original license application,
if such change has not been previously reported to the department.
(c) The director may grant an extension of the renewal date for good
cause.
(d) The director may use the NMLS to process license renewals, as
long as the functionality of the NMLS for such purpose is consistent
with this section.

Legislative History

As added by P.L.198-2023, SEC.4.