Iowa Admin. Code r. 187-17.5 - Renewal of license
(1)
To remain authorized to enter into delayed deposit transactions in Iowa, a
licensee must renew a license before the expiration date of the license. A
licensee who fails to renew a license before the expiration date is not
authorized to enter into delayed deposit transactions after the expiration
date.
(2) An application to renew a
license shall be submitted to the superintendent on the form provided and with
the information requested through the NMLS by December 1 of the year of
expiration. For example, for a license that will expire on December 31, 2017,
an application for renewal shall be submitted by December 1, 2017. All
requested information, including any material change to information contained
in the original application, shall be provided to the superintendent .
(3) The superintendent shall grant an
application to renew a license if:
a. The
licensee submits the application and the appropriate renewal fee by December 1,
or the licensee submits the application after December 1 but before January 1
and pays the appropriate renewal fee and the appropriate late fee;
b. The application is fully completed and
includes all necessary information; and
c. The application does not reveal grounds to
deny a license.
(4) It is
within the discretion of the superintendent to reject for processing a renewal
application submitted after December 31 or to treat such an application as an
application for a new license. A licensee who fails to renew a license before
the expiration date is not authorized to enter into delayed deposit
transactions in Iowa after the expiration date.
Notes
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