(1) An applicant for licensing shall pay a registration fee as follows:
(a) For a commodity broker-dealer, two hundred dollars; and for each branch office, one hundred dollars; and
(b) For a commodity sales representative, fifty dollars.
(2) Except in any year in which a licensing fee is paid, an applicant shall pay an annual fee as follows:
(a) For a commodity broker-dealer, one hundred dollars; and for each branch office in this state, fifty dollars; and
(b) For a commodity sales representative, thirty-five dollars.
(3) For purposes of this section, a branch office means each office of a commodity broker-dealer in this state, other than the principal office in this state of the commodity broker-dealer, from which three or more commodity sales representatives transact business.
(4) If an application is denied or withdrawn or the license is terminated by revocation, cancellation, or withdrawal, the administrator shall retain the fee paid.
[ 1986 c 14 § 25.]