(1) If a person is required to register under Section 31A-6b-201, to register the person shall submit to the commissioner: (a) an application for registration; (b) a copy of any guaranteed asset protection waiver that the person will issue, market, sell, offer to sell, or otherwise provide in this state; and (c) a registration fee established by the commissioner in accordance with Section 31A-3-103, except that the registration fee may not exceed $1,000. (2) (a) On and after July 1, 2011, a person registered under this title shall pay to the commissioner an annual fee: (i) by no later than July 1 of each year after the day on which the person registers; and (ii) established by the commissioner in accordance with Section 31A-3-103, except that the annual fee may not exceed $1,000. (b) If a person fails to pay the annual fee required under this Subsection (2) by October 1, the person's registration expires. (3) The commissioner shall deposit a fee collected under this section into the restricted account.
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