(a) An authorized delegate licensed under this subchapter shall pay a biennial renewal fee of $450 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) An authorized delegate licensed 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 authorized delegate 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 Territory where the authorized delegate engages in money transmission, check cashing or currency exchange, including limited stations and mobile locations.
(c) If an authorized delegate licensed under this subchapter does not file a renewal report or pay the renewal fee by the renewal date or any extension of time granted by the Director, the Director shall send the authorized delegate a notice of suspension. Unless the authorized delegate files the report and pays the renewal fee before expiration of 10 days after the notice is sent, the Director shall suspend the authorized delegate’s license 10 days after the Director sends the notice of suspension.
(d) The Director for good cause may grant an extension of the renewal date. The suspension must be lifted if, within 20 days after its license is suspended, the authorized delegate:
(1) files the report and pays the renewal fee; and
(2) pays $100 for each day after suspension that the Director did not receive the renewal report and the renewal fee.