(1) The commissioner shall, by rule, establish an annual fee for renewal of a license under this chapter.
(2) Licenses issued or renewed pursuant to this chapter shall expire on December 31. Each license may be renewed for the ensuing twelve-month period upon application by the license holder showing continued compliance with the requirements of § 45-7-105, including the security device adjusted in accordance with § 45-7-108, and the payment of the license renewal fee to the commissioner.
(3) Licenses issued or renewed under the former provisions of this chapter shall instead expire on December 31, 2013.
(4) The licensee must include in its renewal application: A copy of its most recent audited unconsolidated annual financial statement (including balance sheet, statement of income or loss, statement of changes in shareholder's equity and statement of changes in financial position), except that a licensee may provide the most recent audited consolidated annual financial statement of the parent corporation if the statement separately includes the balance sheet, statement of income or loss, statement of changes in shareholder's equity and statement of changes of financial position of the licensee. A licensee who does not transmit money in this state through more than an aggregate of four (4) locations may provide a financial statement certified by the owner or manager of the licensee;
(5) [Deleted by 2020 amendment.]
(6) Any material changes to any of the information submitted by the licensee on its original application that have not previously been reported to the commissioner on any other report required to be filed under this chapter;
(7) [Deleted by 2020 amendment.]
(8) [Deleted by 2020 amendment.]
(9) Notification of material litigation or litigation relating to money transmission; and
(10) Other information the commissioner may deem appropriate for the proper enforcement of this chapter.
(11) Failure to pay the renewal fee or to submit a completed renewal application between November 1 and December 31 shall cause the license to expire at the close of business on December 31.
(12) If an applicant for license renewal under this chapter was engaged in the business of selling or issuing money orders on April 30, 1995, at not more than four (4) locations, and if the applicant possessed a duly issued license to engage in the business as was required at the time by [former] § 45-7-102, and if the applicant currently engages in the business of money transmission at not more than four (4) locations, then the applicant shall not be required to submit an audited financial statement pursuant to this section.