Section 51A-17-70 - Annual renewal of license-Fee-Renewal term-Renewal report(1) A license under this chapter shall be renewed annually.(a) The director shall establish an annual renewal fee, not to exceed one thousand dollars, by rule promulgated pursuant to chapter 1-26.(b) The annual renewal fee must be paid no more than sixty days before the license expiration.(c) The renewal term shall be for a period of one year and shall begin on January first of each year after the initial license term and shall expire on December thirty-first 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 director. 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 director.(3) The director for good cause may grant an extension of the renewal date.(4) The director is authorized and encouraged to utilize NMLS to process license renewals provided that such functionality is consistent with this section.Added by S.L. 2024, ch. 196,s. 19, eff. 7/1/2024.