Section 81.31. Renewal

(a) A license issued by the Department shall be renewed on May 1 of each year upon payment of the annual renewal fee by the applicant, filing by the applicant of a completed renewal application and determination by the Department that the licensee is conducting business in accordance with the act.

(b) Since the Department has 60 days from receipt to process the application, timely issuance of a renewal application is conditioned on the Department receiving from the applicant the application fee and a renewal application on or before March 1 of each year. No refund of any portion of the license fee will be made if therenewal application is withdrawn or the license is voluntarily surrendered to the Department or suspended or revoked by the Department prior to its expiration date.