(1) Each applicant and
licensee shall pay to the director an investigation or
examination fee as established in rule and an annual assessment
fee for the coming year in an amount determined by rule as
necessary to cover the operation of the program. The annual
assessment fee is due upon the annual assessment fee due date as
established in rule. Nonpayment of the annual assessment fee may
result in expiration of the license as provided in subsection (2)
of this section. In establishing the fees, the director shall
differentiate between check cashing and check selling and making
small loans, and consider at least the volume of business, level
of risk, and potential harm to the public related to each
activity. The fees collected shall be deposited to the credit of
the financial services regulation fund in accordance with RCW 43.320.110.
(2) If a licensee does not pay its annual assessment fee by
the annual assessment fee due date as specified in rule, the
director or the director's designee shall send the licensee a
notice of suspension and assess the licensee a late fee not to
exceed twenty-five percent of the annual assessment fee as
established in rule by the director. The licensee's payment of
both the annual assessment fee and the late fee must arrive in
the department's offices by 5:00 p.m. on the tenth day after the
annual assessment fee due date, unless the department is not open
for business on that date, in which case the licensee's payment
of both the annual assessment fee and the late fee must arrive in
the department's offices by 5:00 p.m. on the next occurring day
that the department is open for business. If the payment of both
the annual assessment fee and the late fee does not arrive prior
to such time and date, then the expiration of the licensee's
license is effective at 5:00 p.m. on the thirtieth day after the
assessment fee due date. The director or the director's designee
may reinstate the license if, within twenty days after the
effective date of expiration, the licensee:
(a) Pays both the annual assessment fee and the late fee;
and
(b) Attests under penalty of perjury that it did not engage
in conduct requiring a license under this chapter during the
period its license was expired, as confirmed by an investigation
by the director or the director's designee.
(3) If a licensee intends to do business at a new location,
to close an existing place of business, or to relocate an
existing place of business, the licensee shall provide written
notification of that intention to the director no less than
thirty days before the proposed establishing, closing, or moving
of a place of business.
[2003 c 86 § 5; 2001 c 177 § 12; 1996 c 13 § 2; 1995 c 18 § 6; 1994 c 92 § 278; 1991 c 355 § 5.]
NOTES:
Effective date -- 2001 c 177: See note following RCW 43.320.080.