Renewal of license.

A. A license issued pursuant to Article 3 [58-32-301 to 58-32-304 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 3 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000) before November 1 of each year or, if November 1 is not a business day, on the next business day. B. A licensee pursuant to Article 3 of the Uniform Money Services Act shall submit a renewal report with the renewal fee in a record signed under penalty of perjury that shall be in a form and in a medium prescribed by the director. The renewal report shall state or contain: (1) a description of each material change in information submitted by the licensee in its original license application that has not been reported to the director on any required report; and (2) a list of the locations in New Mexico where the licensee or an authorized delegate of the licensee engages in check cashing or currency exchange, including limited stations and mobile locations. C. If a licensee does not file a renewal report or pay its renewal fee by the renewal date or any extension of time granted by the director, the director shall send the licensee a notice of suspension. Unless the licensee files the report and pays the renewal fee before expiration of ten days after the notice is sent, the licensee's license is suspended ten days after the director sends the notice of suspension. The suspension shall be lifted if, within twenty days after its license is suspended, the licensee: (1) files the report and pays the renewal fee; and (2) pays one hundred dollars ($100) for each day after suspension that the director did not receive the renewal report and the renewal fee. D. The director for good cause may grant an extension of the renewal date.