Sec. 6. (a) A licensee under this chapter may not continue to:
(1) act as a loan broker or mortgage loan originator; or
(2) operate as a branch office;
unless the licensee annually renews the license.
(b) A licensee under this chapter shall renew the license by:
(1) filing with the commissioner, before the date on which the license expires, an application containing any information the commissioner requires to indicate any material change from the information contained in the applicant's original application or any previous application; and
(2) including, with the filing under subdivision (1), the applicable application fee specified in this chapter.