§ 26–311. Time and renewal of license.

(a) A license issued to a check-cashing business shall remain in full force and effect through the 31st day of December following its date of issuance, unless earlier surrendered, suspended, or revoked.

(b) If an application for a renewal license, along with a license renewal fee of $200, has been filed with the Superintendent [Commissioner] at least 30 days before the expiration of the license in force, such license shall continue in full force and effect either until the issuance by the Superintendent [Commissioner] of the renewal license applied for or until 5 days after the Superintendent [Commissioner] has refused to issue the renewal license and has given notice of such refusal to the applicant. Except for the fee, the requirements for the issuance of a renewal license shall be the same as the requirements for the issuance of the initial license. If the Superintendent [Commissioner] denies the applicant the authority to operate at a particular location, the operation of business at that particular location shall cease 5 days after the Superintendent [Commissioner] has refused to issue a renewal license to cover the location and has given notice of such refusal to the applicant.