7 Tex. Admin. Code § 83.403 - License Term, Renewal, and Expiration

(a) License term and renewal. A new license is effective from the date of its issuance until December 31. A license must be renewed annually to remain effective. After renewal, a license is effective for a term of one year, from January 1 to December 31.

(b) Due date for annual assessment fee. The annual assessment fee is due by December 1 of each year.

(c) Notice of delinquency. If a licensee does not pay the annual assessment fee, the OCCC will send a notice of delinquency. Notice of delinquency is given when the OCCC sends the notice:

(1) by mail to the address on file with the OCCC as a master file address; or

(2) by e-mail to the address on file with the OCCC as a master file e-mail address, if the licensee has provided a master file e-mail address.

(d) Expiration. If a licensee does not pay the annual assessment fee, the license will expire on the later of:

(1) December 31 of each year; or

(2) the 16th day after notice of delinquency is given under subsection (c) of this section.

(e) Reinstatement. As provided by Texas Finance Code, § 349.301 and § 349.303(a), if a license was in good standing when it expired, a person may reinstate the expired license not later than the 180th day after its expiration date by paying the annual assessment fee and a $1,000 late filing fee.

Notes

7 Tex. Admin. Code § 83.403

The provisions of this §83.403 adopted to be effective January 4, 2007, 31 TexReg 10772; amended to be effective July 10, 2014, 39 TexReg 5142; Amended by Texas Register, Volume 41, Number 36, September 2, 2016, TexReg 6680, eff. 9/8/2016; Amended by Texas Register, Volume 44, Number 35, August 30, 2019, TexReg 4716, eff. 9/5/2019