Renewal.

A license or registration issued under this chapter shall expire on a date to be determined by the Commissioner. A license or registration may thereafter be renewed for one-year term extensions as provided by this section. Before a license expires, the applicant may renew the license or registration for additional one-year terms, if the applicant: Demonstrates that the applicant continues to meet the standards for licensing or registration under this chapter and under all relevant provisions of the Banking Code; Pays all applicable fees as prescribed by the Commissioner and all third-party fees; and Submits to the Commissioner a renewal application on the form that the Commissioner requires.