(a) A licensee under this article shall pay an annual renewal fee of $750 no later than December 1 for the succeeding calendar year or, if December 1 is not a business day, on the next business day.
(b) A licensee under this article shall submit a renewal report with the renewal fee, in a form prescribed by the commissioner. The renewal report must state or contain:
(1) the number and monetary amount of payment instruments, stored-value, and prepaid access sold by the licensee in this State which have not been included in a renewal report and the monetary amount of payment instruments, stored value, and prepaid access currently outstanding;
(2) a description of each material change in information submitted by the licensee in its original license application which has not been reported to the commissioner on any required report;
(3) a list of the licensee's permissible investments and a certification that the licensee continues to maintain permissible investments according to the requirements set forth in §§ 23-55-701 and 23-55-702; and
(4) proof that the licensee continues to maintain adequate security as required by § 23-55-204.
(c) A licensee that does not comply with subsections (a) and (b) by December 1 shall pay a late fee of $250 if the complete renewal application is received before the expiration of the license.
(d) The commissioner for good cause may grant an extension of the renewal date.
Section: Previous 23-55-202 23-55-204 23-55-205 23-55-206 23-55-207 NextLast modified: November 15, 2016