Every risk retention group and purchasing group that registers with the Commissioner under this Article shall pay the following fees:
Risk retention group registration $ 500.00
Purchasing group registration 500.00
Risk retention group renewal 1,500.00
Purchasing group renewal 100.00
Registration fees shall not be prorated and must be submitted with the application for registration. Renewal fees shall not be prorated and shall be paid on or before January 1 of each year.