Section 145.45  Renewal

Each licensed debt settlement provider may make application to the Secretary for annual renewal of its license on the form prescribed by the Secretary, accompanied by the annual license fee of $1,000, together with a surety bond in the amount of $100,000 or an additional amount as required by the Secretary, considering the amount of disbursements made by the licensee in the previous year. The application must be received by the Department no later than December 1 of the year preceding the year for which the application is made.