§ 6.1212

6-1212. License renewal A. A license under this article shall be renewed annually. B. An applicant for license renewal shall pay all applicable fees as prescribed in section 6-126 not more than sixty days before the license expires. C. The renewal term shall be for a period of one year and shall begin on January 1 of each year after the initial license term and shall expire on December 31 of the year the renewal term begins. D. A licensee shall submit a renewal report with the renewal fee in a form prescribed by the director. The renewal report must specify information that is materially different from the information that the licensee submitted in the original license application if the licensee has not previously reported the information to the director. E. A licensee may renew an expired license not later than January 31 subject to a late fee of $500. F. The director may use NMLS to process license renewals if functionality is consistent with this section.