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(a) Except as provided by (c) of this section, when an applicant submits an application for a license under this chapter to the department, the applicant shall pay to the department
(1) a nonrefundable application fee of $250 in partial payment of those investigation expenses incurred by the department; and
(2) a biennial license fee of $500 for the period that terminates two years after the date the license is issued; after this payment, the biennial license fee is due every two years on the anniversary date of the original issuance of the license.
(b) An applicant shall pay all reasonable costs and reasonable investigative fees incurred by the department before the department issues a license.
(c) An applicant is not required to pay the application fee or the biennial license fee under (a) of this section if the applicant is applying for a mortgage license and an originator license, is the principal owner or legally authorized manager of the mortgage license applicant, and is designated in the application under AS 06.60.020 (4) as the individual to receive an originator license for the mortgage licensee.
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