2014 Tennessee Code
Title 45 - Banks And Financial Institutions
Chapter 12 - Flexible Credit Act [Effective on January 1, 2015]
§ 45-12-109 - Expiration of license -- Renewal -- Fees -- Biennial license arrangement. [Effective on January 1, 2015.]

(a) Licenses issued pursuant to this chapter shall expire on December 31. Each license may be renewed for the ensuing twelve-month period upon application by the license holder showing continued compliance with the requirements of § 45-12-104 and the payment to the commissioner annually, between November 1 and December 31, of a license renewal fee of five hundred dollars ($500). If a supervision fee is established pursuant to § 45-1-118, the commissioner shall require licensees under this chapter, to instead, pay the nonrefundable supervision fee in place of the license renewal fee.

(b) A licensee making timely and complete application for renewal of its license shall be permitted to continue to operate under its existing license until its application is approved or denied.

(c) The commissioner may establish a biennial license arrangement for the filing of the application for license renewal, but in no case shall the license fee or supervision fee, if established pursuant to § 45-1-118, be payable for more than one (1) year at a time.