Dealer license--Fee--Renewal--Disposition of fees

Upon making initial application for a dealer's license, the applicant shall pay a fee of one hundred fifty dollars to the department. A renewal application shall be submitted to the department annually, unless the license has been revoked prior to the expiration date, along with a renewal fee of one hundred twenty-five dollars, prior to the expiration of the old license. The renewal application shall contain the same information as is required in §