1. Each credit service organization regulated by the provisions of this chapter shall apply for registration on the form prescribed by the Division. 2. At the time of application for registration, the applicant must pay to the Division an administrative fee of $25 and deposit the required security with the Division. 3. Upon receipt of the security in the proper form and the payment of the administrative fee required by this section, the Division shall issue a certificate of registration to the applicant. A certificate of registration: (a) Is not transferable or assignable; and (b) Expires 1 year after it is issued. 4. A registrant must renew a certificate of registration issued pursuant to this section before the certificate expires by submitting to the Division an application for the renewal of the certificate on a form prescribed by the Division.
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