(a) The commissioner shall charge and collect the license application fees, license fees, license renewal fees, and examination costs in amounts reasonable and necessary to defray the cost of administering this article as follows:
(1) For applying for a license, an application and licensing fee of $1,000, plus $20 for each location at which the applicant and its authorized delegates are conducting business or propose to conduct business excepting the applicant's principal place of business.
(2) For renewal of a license, a fee of $250 plus $5 for each location at which the licensee and its authorized delegates are conducting business or propose to conduct business excepting the applicant's principal place of business, plus an assessment of up to $.001 for every dollar of transmission services provided in the prior year.
(3) The total of fees required by subdivisions (1) or (2) of this subsection may not exceed $25,000 for any one application.
(4) For a change in address by the licensee of its principal place of business, a fee of $100.
(5) For failure to timely submit an application of renewal or file audited financial statements required for renewal as set forth in this article, a penalty fee of $10 per day for each day late, unless an extension of time has been granted or the fee waived by the commissioner.
(b) The commissioner may, by rules proposed for legislative approval in accordance with the provisions of article three, chapter twenty-nine-a of this code, amend the fees set forth in this section and in subsection (b), section eleven of this article.
(c) Fees and moneys received and collected under this article
shall be paid into the special revenue account in the State
Treasury for the Division of Financial Institutions established in
section eight, article two, chapter thirty-one-a of this code.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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