522E.5  License renewal.
  1.  Not less than sixty days before a portable electronics insurance license will expire, the commissioner may use an electronic delivery method, including electronic mail or other similar electronic method of delivery, to deliver, or may mail, to the latest electronic mail or mailing address appearing in the commissioner’s records, an application to the licensee to renew a portable electronics insurance license for the appropriate succeeding license term. It is the licensee’s responsibility to renew the license, whether or not a renewal notice is received.
  2.  The commissioner may accept a late renewal without penalty, provided that the licensee’s failure to comply is due to a clerical error or inadvertence.
  3.  An application for renewal of a portable electronics insurance license may be filed on or before the expiration date of the license. An application for renewal of an expired license may be filed after the expiration date and until that same month and date of the next succeeding year.
  4.  The commissioner shall impose a penalty fee equal to one-half of the renewal fee for the portable electronics insurance license for any application for renewal that is filed after the expiration date of the license.
2015 Acts, ch 87, §5, 16