§489D-12 Renewal of license and annual report. (a) On or before December 31 of each year, each licensee shall pay renewal fees based on the number of annualized money transmissions as follows:
For purposes of this subsection, "annualized money transmissions" means the number of money transmissions reported for the quarter on the report required by subsection (b)(2), multiplied by four.
(b) The annual license fee shall be accompanied by a report, in a form prescribed by the commissioner, which shall include:
A license may be renewed by filing a renewal statement on a form prescribed by NMLS or by the commissioner and paying a renewal fee at least four weeks prior to the renewal date for licensure for the following year.
(c) A licensee that has not filed an annual report that has been deemed complete by the commissioner or paid its annual license fee by the renewal filing deadline, and has not been granted an extension of time to do so by the commissioner, shall have its license suspended on the renewal date. The licensee shall have thirty days after its license is suspended to file an annual report and pay the annual license fee, plus a late filing fee of $250 for each business day after suspension that the commissioner does not receive the annual report and the annual license fee. The commissioner, for good cause, may grant an extension of the renewal date or reduce or suspend the $250 per day late filing fee. [L 2006, c 153, pt of §1; am L 2008, c 195, §8; am L 2013, c 167, §7; am L 2017, c 45, §4; am L 2023, c 183, §6]