(a) Each collection agency shall renew its registration by June 30 of each even-numbered year.
(b) When renewing its registration, an agency shall submit to the director the following:
(1) An application on a form prescribed by the director;
(2) Satisfactory evidence that the collection agency is bonded as required by section 443B-5;
(3) A certificate of good standing or a certificate of authority issued by the business registration division, if the applicant is a corporation, partnership, or joint venture;
(4) The name and business address of the applicant's principal collector who is authorized to directly manage and control the daily operations of the applicant's Hawaii office; and
(5) A renewal fee in the amount specified by rule.
(c) Failure on the part of a collection agency to renew its registration as provided in subsection (a) shall cause the registration to be forfeited; provided that the director may make an exception for good cause shown.