38.2-1840 - Annual renewal application and fee. - Virginia Statutes

§ 38.2-1840. Annual renewal application and fee.

A. Before June 1 of each year, each insurance consultant shall remit arenewal application in a form and manner acceptable to the Commission, alongwith the nonrefundable renewal application processing fee prescribed hereinfor the renewal of the license, unless the license has been terminated,suspended or revoked on or before June 30 of that year. Any consultantlicense for which the required renewal application and nonrefundable renewalapplication processing fee has been received by the Commission on or beforeJune 1 shall be renewed for a one-year period beginning on July 1 and endingon the following June 30. Any consultant license for which the requiredrenewal application and nonrefundable renewal application processing fee hasnot been received by the Commission by June 1 shall be terminated effectiveon June 30.

B. The annual nonrefundable renewal processing fee for each insuranceconsultant's license shall be fifty dollars, which shall be paid in a mannerprescribed by the Commission. All fees shall be collected by the Commissionand paid into the state treasury and placed to the credit of the fund for themaintenance of the Bureau of Insurance as provided in subsection B of §38.2-400.

(1985, c. 3, § 38.1-327.65; 1986, c. 562; 1987, cc. 521, 678; 1994, c. 316;1999, c. 44; 2001, c. 706.)