6.__Person.__"Person" means an individual or an organization.

7.__Renewal.__"Renewal" means any deferred deposit loan when the loan is not paid in full and the lender agrees to allow the consumer to pay the fee only for a new deferred deposit loan.

§6187.__License requirements

1.__License; renewal.__A lender may not engage in the business of making deferred deposit loans without obtaining a license from the administrator as provided in this chapter.__A license may not be transferred or assigned.__A license issued under this chapter expires on December 31st of the year approved. An annual license application must be mailed by December 1st of each year for the following year.

2.__Application.__An application for an initial license or renewal under this chapter must be made in writing in the form and manner approved by the administrator.__The application must include the following information:

A.__The name and address of the license applicant and, if the applicant is a corporation, limited liability company or partnership, the name and address of each officer, director, registered agent or principal member of the corporation, limited liability company or partnership; and

B.__The physical location and address of each business office to be licensed.

The application may also include any other information concerning the financial responsibility, background, experience and activities of the applicant required by the administrator.

3.__Fees.__The initial application for a license may be filed at any time and must include a fee of $500.__The license fee is not refundable in any event and is not abated by surrender, suspension or revocation of the license.__The fee for a renewal of a license is $250.