Michigan Laws 445.1657 – Expiration of registration or license; renewal; application; fee; limitation; financial statement
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 445.1657
- Commissioner: means the commissioner of the office of financial and insurance regulation of the department of licensing and regulatory affairs or his or her authorized agent. See Michigan Laws 445.1651a
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- License: means a license issued under this act. See Michigan Laws 445.1651a
- Licensee: means a person licensed or required to be licensed under this act. See Michigan Laws 445.1651a
- Registrant: means a person that is registered under section 6 or required to register under section 6. See Michigan Laws 445.1651a
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) A registration or license, unless it is renewed, shall expire December 31 of each year. A registration or license may be renewed by filing a registration or an application for license renewal and paying the annual operating fee for the succeeding year. The registration or application and payment shall be received by the commissioner on, or before, a date prescribed by the commissioner.
(2) Not later than 90 days after the close of the fiscal year of a licensee or registrant, the licensee or registrant shall annually deliver to the commissioner a financial statement for the fiscal year prepared from the licensee’s or registrant’s books and records. At the licensee’s or registrant’s option, the financial statement may be any of the following:
(a) A form prescribed by the commissioner.
(b) A report substantially similar to the form prescribed by the commissioner, which the licensee or registrant must represent to the commissioner to be true and complete.
(c) In a format prepared and certified by an independent certified public accountant licensed by a regulatory authority of any state or political subdivision of the United States.