5-20-107. License and investigation fees

5-20-107. License and investigation fees. (1) A person applying for licensure under section 5-20-106 (1) or (2) shall pay the following nonrefundable fees established by the administrator:

(a) Initial license fee of at least one thousand dollars;

(b) Annual renewal fee of at least one thousand dollars; and

(c) Investigation fee.

(2) The administrator shall determine the amount of the fees required in this section and may periodically reduce or increase the amount of one or more of the fees if necessary pursuant to section 24-75-402 (3) and (4), to reduce the uncommitted reserves of the fund created in section 5-20-104 (3). The fund is subject to the maximum reserve established in section 24-75-402.