(1) (a) A license under this chapter expires annually on August 14. To renew its license under this chapter, on or before July 15 a bail bond agency shall: (i) complete and submit a renewal application to the department; (ii) require that a principal of the agency attends at least one board meeting each year; and (iii) pay the department the applicable renewal fee established in accordance with Section 31A-3-103. (b) A bail bond agency shall renew its license under this chapter annually as established by department rule, regardless of when the license is issued.

(a) A license under this chapter expires annually on August 14. To renew its license under this chapter, on or before July 15 a bail bond agency shall: (i) complete and submit a renewal application to the department; (ii) require that a principal of the agency attends at least one board meeting each year; and (iii) pay the department the applicable renewal fee established in accordance with Section 31A-3-103.

(i) complete and submit a renewal application to the department;

(ii) require that a principal of the agency attends at least one board meeting each year; and

(iii) pay the department the applicable renewal fee established in accordance with Section 31A-3-103.

(b) A bail bond agency shall renew its license under this chapter annually as established by department rule, regardless of when the license is issued.

(2) A bail bond agency may apply for reinstatement of an expired bail bond agency license within one year following the expiration of the license under Subsection (1) by: (a) submitting the renewal application required by Subsection (1); and (b) paying a license reinstatement fee established in accordance with Section 31A-3-103.

(a) submitting the renewal application required by Subsection (1); and

(b) paying a license reinstatement fee established in accordance with Section 31A-3-103.

(3) If a bail bond agency license has been expired for more than one year, the person applying for reinstatement of the bail bond agency license shall: (a) submit a new application form to the commissioner; and (b) pay the application fee established in accordance with Section 31A-3-103.

(a) submit a new application form to the commissioner; and

(b) pay the application fee established in accordance with Section 31A-3-103.

(4) If a bail bond agency license is suspended, the applicant may not submit an application for a bail bond agency license until after the end of the period of suspension.

(5) A fee collected under this section shall be deposited in the restricted account created in Section 31A-35-407.