Subdivision 1.Filing; fee.

A registration is effective for 12 months from the date the commissioner’s order is issued. A registrant must file a report, in the form prescribed by rule of the commissioner, before the end of the registration effective period. A fee of $200 shall accompany the annual report.

Subd. 2.Noncompliance.

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Failure to file the annual report and pay the fee shall constitute cause for cancellation of the registration. In the event of such cancellation, registration may be reinstated at a subsequent date following filing of the report and payment of the fee.