Expiration of Registration Certificates — Renewal — Fees — Evidence That Surety Bond Adjusted — Continuing Education and Testing — Biennial Registration
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A certificate of registration issued pursuant to this chapter expires on December 31. A certificate of registration may be renewed for the ensuing twelve-month period upon application by the registrant showing continued compliance with the requirements of § 45-5-201 and payment of the nonrefundable supervision fee, as provided in § 45-1-118(i). A registrant making timely and complete application and payment for renewal of its certificate of registration may continue to operate under its existing certificate of registration 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 registrant submitting an application for renewal of a certificate of registration expiring on March 31, 2018, must pay the supervision fee as provided in § 45-1-118(i). The completed renewal application and payment must be sent to the department on or before March 1, 2018. A renewal certificate of registration with a beginning effective date of April 1, 2018, expires on December 31, 2018.
As a condition of renewal of a certificate of registration for a registrant that makes or proposes to make residential mortgage loans, the registrant shall file with its renewal application evidence that its surety bond is adjusted in accordance with § 45-5-202(c).
As a condition of renewal of a certificate of registration for a registrant that makes or proposes to make residential mortgage loans, the commissioner may adopt rules to require that any of the individuals identified pursuant to § 45-5-202(e) successfully complete continuing education course requirements. The rules pertaining to continuing education requirements, as well as those pertaining to any testing or education requirements, or both, under § 45-5-202, may include criteria for content, accreditation of sponsors and programs, computation of credit, special cases and exemptions, general compliance procedures and sanctions for noncompliance.
The commissioner may establish a biennial registration arrangement for the filing of the application for renewal of the certificate of registration, but in no case shall the supervision fee be payable for more than one (1) year at a time.