(a) License term and renewal. A new license is effective from the date of its issuance until December 31. A license must be renewed annually to remain effective. After renewal, a license is effective for a term of one year, from January 1 to December 31.(b) Due date for annual assessment fee. The annual assessment fee is due by December 1 of each year.(c) Notice of delinquency. If a licensee does not pay the annual assessment fee, the OCCC will send a notice of delinquency. Notice of delinquency is given when the OCCC sends the notice:(1) by mail to the address on file with the OCCC as a master file address; or(2) by e-mail to the address on file with the OCCC as a master file e-mail address, if the licensee has provided a master file e-mail address.(d) Expiration. If a licensee does not pay the annual assessment fee, the license will expire on the later of:(1) December 31 of each year; or(2) the 16th day after notice of delinquency is given under subsection (c) of this section.(e) Reinstatement. As provided by Texas Finance Code, §349.301 and §349.303(a), if a license was in good standing when it expired, a person may reinstate the expired license not later than the 180th day after its expiration date by paying the annual assessment fee and a $1,000 late filing fee.