32-9-134. License renewal -- rulemaking. (1) All persons licensed under this part are required to renew their licenses by December 31 of each year.

(2) A renewal application for a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator must demonstrate that:

(a) the licensee continues to meet the standards for licensure under this part;

(b) a mortgage loan originator has satisfied annual continuing education requirements pursuant to 32-9-118; and

(c) the licensee has paid all required fees for renewal of the license, all outstanding examination fees and investigation fees, and any civil penalties.

(3) Any license not renewed by December 31 expires on December 31. The department may adopt rules regarding requirements for renewal applications and the procedures for the reinstatement of expired licenses consistent with the standards established by the NMLS.