(a) The biennial license fees for licenses issued and renewed under this part shall be set by the commission.(b) A penalty of fifty percent (50%) of the amount of the license fee will be assessed on any renewal application postmarked after the expiration date of the license.(c) No renewal application will be accepted more than ninety (90) days after the expiration date of a license.(d) Notwithstanding §§ 55-17-108 and 55-17-119 to the contrary, all revenue resulting from fees, penalties or interest increased by the 1987 amendment to this section shall be allocated to the motor vehicle commission.
