(1) The director shall establish fees by rule sufficient to cover the costs of administering this chapter. The director may establish different fees for each type of license authorized under this chapter. These fees may include:

     (a) An annual license assessment specified in rule by the director paid by each licensee on or before the annual license assessment due date;

     (b) A late fee for late payment of the annual license assessment as specified in rule by the director;

     (c) An hourly examination or investigation fee to cover the costs of any examination or investigation of the books and records of a licensee or other person subject to this chapter;

     (d) A nonrefundable application fee to cover the costs of processing license applications made to the director under this chapter;

     (e) An initial license fee to cover the period from the date of licensure to the end of the calendar year in which the license is initially granted; and

     (f) A transaction fee or set of transaction fees to cover the administrative costs associated with processing changes in control, changes of address, and other administrative changes as specified in rule by the director.

     (2) The director shall ensure that when an examination or investigation, or any part of the examination or investigation, of any licensee applicant or person subject to licensing under this chapter, requires travel and services outside this state by the director or designee, the licensee applicant or person subject to licensing under this chapter that is the subject of the examination or investigation shall pay the actual travel expenses incurred by the director or designee conducting the examination or investigation.

     (3) All moneys, fees, and penalties collected under this chapter shall be deposited into the financial services regulation account.

[2003 c 287 § 34.]