(a) Before the Commission issues a contractor license, the contractor shall pay a fee of $100 to be credited to the Fund.

(b) (1) If the Commission finds that, because of pending claims, the amount of the Fund may fall below $250,000, the Commission shall assess each contractor a fee of $50.

(2) However, under this subsection the Commission may not assess a contractor more than $150 in a calendar year.

(c) If a contractor fails to pay an assessment within 60 days after notice of the assessment, the contractor license is suspended until the assessment is paid.