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Licenses issued pursuant to this chapter expire on December 31. A license may be renewed for the ensuing twelve-month period upon application by the license holder showing continued compliance with the qualifications for a license, filing of the completed renewal form, and payment of the nonrefundable supervision fee, as provided in § 45-1-118(i). A licensee making timely and complete application and payment for renewal of its license may continue to operate under its existing license until its application is approved or denied. The completed renewal application and the payment of the annual supervision fee must be sent to the department on or before December 31, but no earlier than November 1, of each year.
A license holder submitting a renewal application pursuant to this chapter for a license expiring on March 31, 2018, must pay the supervision fee as provided in § 45-1-118(i) for each location. The completed renewal application and payment must be sent to the department on or before March 1, 2018. A renewed license issued under this chapter with a beginning effective date of April 1, 2018, expires on December 31, 2018.
The licensee shall include in its annual renewal report:
A copy of its most recent unconsolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder's equity and statement of changes in financial position, except that a licensee may provide the most recent consolidated annual financial statement of the parent corporation if the statement includes the balance sheet, statement of income or loss, statement of changes in shareholder's equity and statement of changes of financial position of the licensee;
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;
Notification of material litigation relating to the businesses regulated under this chapter; and
Other information that the commissioner may deem appropriate for the proper enforcement of this chapter.
The commissioner may establish a biennial license arrangement for the filing of the application for licensure renewal, but in no case shall the supervision fee be payable for more than one (1) year at a time.