(1) A license under the Nebraska Money Transmitters Act shall be renewed annually.

(2) An annual renewal fee of seven hundred fifty dollars shall be paid no more than sixty days before the license expiration.

(3) The renewal term shall be for a period of one year and shall begin on January 1 of each year after the initial license term and shall expire on December 31 of the year the renewal term begins.

(4) A licensee shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the director. The renewal report shall state or contain a description of each material change in information submitted by the licensee in its original license application which has not been reported to the director.

(5) The director may, for good cause, grant an extension to when the submission of the renewal fee and report is due for renewal for a licensee.

(6) The director is authorized to utilize the Nationwide Mortgage Licensing System and Registry to process license renewals provided that such functionality is consistent with this section.