(1) A license under this chapter shall be renewed annually.(a) An annual renewal fee of Eight Hundred Dollars ($800.00) plus One Hundred Dollars ($100.00) for each location in excess of one in Mississippi through which the licensee plans to conduct money transmission during the license year for which the fee is paid, shall be paid, provided that in no event shall the annual renewal fee exceed Five Thousand Eight Hundred Dollars ($5,800.00). Such renewal fee shall be paid no more than sixty (60) days before the license expiration.(b) The renewal term shall be for a period of one (1) year and shall begin on January 1 of each year after the initial license term and shall expire on December 31 of the year the renewal term begins.
(a) An annual renewal fee of Eight Hundred Dollars ($800.00) plus One Hundred Dollars ($100.00) for each location in excess of one in Mississippi through which the licensee plans to conduct money transmission during the license year for which the fee is paid, shall be paid, provided that in no event shall the annual renewal fee exceed Five Thousand Eight Hundred Dollars ($5,800.00). Such renewal fee shall be paid no more than sixty (60) days before the license expiration.
(b) The renewal term shall be for a period of one (1) year and shall begin on January 1 of each year after the initial license term and shall expire on December 31 of the year the renewal term begins.
(2) A licensee shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the commissioner. The renewal report must state or contain 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. The report must also contain a list of the locations in this state where the licensee or an authorized delegate of the licensee engages in virtual currency kiosk transactions.
(3) The commissioner, for good cause, may grant an extension of the renewal date.
(4) The commissioner is authorized and encouraged to utilize NMLS to process license renewals provided that such functionality is consistent with this section.