Virginia Code Title 6.2. Financial Institutions and Services § 6.2-1934. License renewal

A. A license issued under this chapter shall be renewed annually.  An annual renewal fee of $750 shall be paid no more than 60 days before the license expiration.  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.

B. A licensee shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the Commission.  The renewal report shall state or contain a description of each material change in information submitted by the licensee in its original license application that has not been reported to the Commission.

C. The Commission for good cause may grant an extension of the expiration date.

D. The Commission may utilize NMLS to process license renewals provided that such functionality is consistent with this section.