(a) A sworn application for a license under this article shall be filed with the commissioner on forms prescribed and furnished by the commissioner.
(b) The application for a license shall provide the:
(1) Name, residence address, electronic mail address, and other information required by the commissioner for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with the requirements of this article; provided that if the vendor derives more than fifty per cent of its revenue from the sale of portable electronics insurance, the information in this paragraph shall be provided for all officers, directors, and shareholders of record having beneficial ownership of ten per cent or more of any class of securities registered under the federal securities law; and
(2) Location of the applicant's home office.
(c) Any vendor engaging in portable electronics insurance transactions on or before January 1, 2013, shall apply for licensure within ninety days of the application's being made available by the commissioner. Any applicant commencing operations after January 1, 2013, shall obtain a license prior to offering portable electronics insurance.
(d) The license shall be renewable biennially. Licensing fees shall be governed by section 431:7-101.