§ 31A-6b-202. Registration process -- Annual fee.

(1) If a person is required to register under Section 31A-6b-201, to register the person shall submit to the commissioner:

(a) an application for registration;

(b) a copy of any guaranteed asset protection waiver that the person will issue, market, sell, offer to sell, or otherwise provide in this state; and

(c) a registration fee established by the commissioner in accordance with Section 31A-3-103, except that the registration fee may not exceed $1,000.

(2)

(a) On and after July 1, 2011, a person registered under this title shall pay to the commissioner an annual fee:

(i) by no later than July 1 of each year after the day on which the person registers; and

(ii) established by the commissioner in accordance with Section 31A-3-103, except that the annual fee may not exceed $1,000.

(b) If a person fails to pay the annual fee required under this Subsection (2) by October 1, the person's registration expires.

(3) The commissioner shall deposit a fee collected under this section into the restricted account.

Enacted by Chapter 274, 2010 General Session