§432:2-603  Annual license.  (a)  Societies that are now authorized to transact business in this State may continue to transact business until May 1 next succeeding July 1, 1988.  The authority of societies and all societies hereafter licensed, may thereafter be renewed annually, but in all cases to terminate on the succeeding May 1.  However, a license so issued shall continue in full force and effect until the new license is issued or specifically refused.  For each license or renewal subject to this section, the society shall pay the commissioner $7.50.  A duly certified copy or duplicate of the license shall be prima facie evidence that the licensee is a fraternal benefit society within the meaning of this article.

     (b)  If the license fee is not paid by May 1, the fee shall be increased by a penalty in the amount of fifty per cent of the fee.  If the fee and the penalty are not paid within the thirty days immediately following the extension date, the commissioner may revoke the license until the fee and penalty have been paid. [L 1987, c 347, pt of §2; am L 1988, c 363, §2(7); am L 2012, c 251, §11]

 

Revision Note

 

  "July 1, 1988" substituted for "the effective date of this article".