Effective 1-1-2026. Sec. 506. (a) A license under this chapter shall be renewed annually as follows: (1) An annual renewal fee, as set by the department, shall be paid not later than December 31 of each year. (2) The renewal term is for a period of one (1) year and: (A) begins on January 1 of each year after the initial license term; and (B) expires on December 31 of the year the renewal term begins. (b) A licensee shall submit a renewal report with the renewal fee, in a form and by a medium prescribed by the director. The renewal report must state or contain a description of each material change in the information submitted by the licensee in its original license application, if such change has not been previously reported to the department. (c) The director may grant an extension of the renewal date for good cause. (d) The director may use the NMLSR to process license renewals, as long as the functionality of the NMLSR for such purpose is consistent with this section.
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