2017 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 79 - Money Services
§ 2518 Renewal of license and annual report
§ 2518. Renewal of license and annual report
(a) A licensee under this subchapter shall pay an annual license renewal fee of $500.00 no later than December 1 for the next succeeding calendar year.
(b) A licensee under this subchapter shall submit an annual report, on or before April 1 for the preceding calendar year, in a form and in a medium prescribed by the Commissioner. The annual report shall 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 previously reported to the Commissioner on any required report;
(2) a list of the locations in this State where the licensee engages in check cashing or currency exchange, including limited stations and mobile locations; and
(3) any other information the Commissioner may require.
(c) If a licensee does not file an annual report on or before April 1, or pay its renewal fee by December 1, or within any extension of time granted by the Commissioner, the Commissioner shall send the licensee a notice of suspension. The licensee's license shall be suspended 10 calendar days after the Commissioner sends the notice of suspension. The licensee has 20 days after its license is suspended in which to file an annual report or pay the renewal fee, plus $100.00 for each day after suspension that the Commissioner does not receive the annual report or the renewal fee. The Commissioner for good cause may grant an extension of the due date of the annual report or the renewal date. (Added 2001, No. 55, § 1, eff. Jan. 1, 2002; amended 2003, No. 105 (Adj. Sess.), § 13; 2009, No. 42, § 3.)
