§489D-12  Renewal of license and annual
report.  (a)  On or before December 31 of each year, each licensee shall
pay to the commissioner an annual license fee of $2,000, plus $300 for each additional
location in the State, not to exceed an aggregate fee of $15,000.



(b)  The annual license fee shall be
accompanied by a report, in a form prescribed by the commissioner, which shall
include:



(1)  A copy of the licensee's most recent audited
annual financial statement, including balance sheets, statement of income or
loss, statement of changes in shareholder's equity, and statement of changes in
financial position or, if a licensee is a wholly owned subsidiary of another
corporation, the consolidated audited annual financial statement of the parent
corporation in lieu of the licensee's audited annual financial statement;



(2)  For the most recent quarter for which data is
available prior to the date of filing the annual report, but in no event more
than one hundred twenty days prior to the renewal date, the licensee shall
provide the number of payment instruments sold by the licensee in the State,
the dollar amount of those instruments, and the dollar amounts of those
instruments currently outstanding;



(3)  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;



(4)  For the most recent quarter for which data is
available prior to the date of filing the annual report, but in no event more
than one hundred twenty days prior to the renewal date, a list of the
licensee's permissible investments, including the total market value of each
type of permissible investment, and the total dollar amount of all outstanding
payment instruments issued or sold by the licensee in the United States;



(5)  A list of the locations, if any, within this State
where business regulated by this chapter is being conducted by either the
licensee or the licensee's authorized delegates;



(6)  Disclosure of any pending or final suspension,
revocation, or other enforcement action by any state or governmental authority;
and



(7)  Any other information the commissioner may
require.



(c)  A licensee that has not filed an annual
report that has been deemed complete by the commissioner or paid its annual
license fee by the renewal filing deadline, and has not been granted an
extension of time to do so by the commissioner, shall have its license
suspended on the renewal date.  The licensee has thirty days after its license
is suspended to file an annual report and pay the annual license fee, plus a
late filing fee of $100 for each business day after suspension that the
commissioner does not receive the annual report and the annual license fee.  The
commissioner, for good cause, may grant an extension of the renewal date or
reduce or suspend the $100 per day late filing fee. [L 2006, c 153, pt of §1;
am L 2008, c 195, §8]