(a) Application fees.--An applicant for a check-casher license under this act shall be subject to an initial application fee of $500 for each fixed location or mobile unit.

(b) Term and renewal.--A license shall be issued for a term not to exceed 14 months and may be renewed by the department each year on a schedule set by the department upon application by the licensee and the payment of $350 for each fixed location or mobile unit. The licensee shall demonstrate to the department that it is conducting the check casher business in accordance with the requirements of this act and that the licensee or directors, officers, partners, employees, agents and ultimate equitable owners of 10% or more of the licensee continue to meet all of the initial requirements for licensure required by this act, unless otherwise determined by the department.

(c) Single application.--The department shall provide for the filing of a single application for all applicants who conduct business at multiple locations. A single application shall indicate the principal office of the business and a specific address for each fixed location or mobile unit covered under the application. The principal office shall have available all pertinent records and information related to the businesses licensed. A license shall be issued for each location or mobile unit. The department may accept the filing of an application electronically or in computer format.

(d) Recovery of costs.--No abatement of any license fee shall be made if the license is issued for a period of less than one year.

(e) Adjustment of fee.--In the event that application and renewal fees exceed the amount needed to administer this act, the department may reduce the fee by regulation.