Sec 6-1305. Registration; renewal; reporting requirements

A. The superintendent shall register the applicant as an advance fee loan broker when an applicant has fully complied with this chapter and the rules prescribed by the superintendent.

B. The superintendent shall immediately notify the applicant by mail on registering the applicant as an advance fee loan broker.

C. A registered advance fee loan broker shall apply for renewal as prescribed by the superintendent not later than June 30 of each year. A registration for which a renewal application is not received by the superintendent by June 30 is suspended and the registered advance fee loan broker may not act as an advance fee loan broker until the registration is renewed or a new registration is issued pursuant to this article. The registration of an advance fee loan broker that has not filed a renewal application and paid the renewal fee by July 31 expires. A registration may not be granted to the holder of an expired registration except as provided in this article for the issuance of an original registration.

D. An advance fee loan broker may annually renew the broker's registration by filing a supplemental statement showing any changes in the facts set forth in the original application for registration or any previously filed supplemental statement made at the time of annual renewal.

E. An advance fee loan broker shall file a supplemental statement showing any changes in the facts set forth in the original application or in any supplemental statement made at the time of annual renewal within thirty days of a change in any material fact.