Registration. Authority to transact business. Application. Expiration and renewal of registration. Fee

(a) Not later than October 1, 2024, each provider and commercial financing broker shall: (1) Register with the Banking Commissioner in a manner prescribed by the commissioner; and (2) unless such provider or broker is organized under the laws of this state or is otherwise not required to obtain authority to transact business in this state as a foreign entity, shall obtain authority to transact business in this state. (b) An application for registration by a provider or commercial financing broker shall disclose any judgment, memorandum of understanding, cease and desist order or conviction that involves a crime or an act of fraud, breach of trust or money laundering with respect to such provider or broker or any officer, director, manager, operator or individual who otherwise controls the operations of such provider or broker. (c) Each provider and commercial financing broker registration shall expire at the close of business on December thirty-first of the year in which such registration was approved, unless such registration is renewed or, if such registration is approved on or after November first, such registration shall expire at the close of business on December thirty-first of the year following the year in which such registration was approved. An application for renewal of a registration shall be filed with the commissioner between November first and December thirty-first of the year in which the registration expires. Each applicant for an initial registration or renewal of a registration shall pay to the system a registration fee of one thousand dollars and any other required fees or charges. All fees paid pursuant to this subsection shall be nonrefundable.