(a) A licensee under this subchapter shall pay a biennial renewal fee of $2,000 no later than 30 days before each biennial anniversary of the issuance of the license or, if the last day is not a business day, on the next business day.
(b) A licensee under this subchapter shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the Director. The renewal report must state or contain:
(1) a description of each material change in information submitted by the licensee in its original license application that has not been reported to the Director on any required report; and
(2) a list of the locations in this State where the licensee or an authorized delegate of the licensee engages in currency exchange or check cashing, including limited stations and mobile locations.
(c) If a licensee does not file a renewal report and pay its renewal fee by the renewal date or any extension of time granted by the Director, the Director shall send the licensee a notice of suspension. Unless the licensee files the report and pays the renewal fee before expiration of 10 days after the notice is sent, the licensee's license is suspended 10 days after the Director sends the notice of suspension.
(d) The Director for good cause may grant an extension of the renewal date.