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• <br />(c) A title loan lender shall pay a biennial license renewal fee. A license that is not <br />renewed at the end of each two (2) year period shall automatically become inactive. An <br />inactive license may be reactivated within ninety (90) days after the date it became inactive <br />upon the submission of a completed reactivation form and payment of a reactivation fee. No <br />inactive license may be reactivated after ninety (90) days. <br />(d) All fees required pursuant to this section, including the initial application and <br />license fee, license renewal fee and reactivation fee shall be established by resolution of the <br />Commission. <br />(e) Each license must specify the location for which it is issued and shall be <br />conspicuously displayed at that location. When a title loan lender wishes to move a title loan <br />office to another location the title loan lender shall give thirty (30) days prior written notice to <br />the Department by certified or registered mail, return receipt requested, and the Department <br />shall then amend the license accordingly. A license issued pursuant to this section is not <br />transferable or assignable. <br />(f) A title loan lender licensed pursuant to this section shall designate and maintain <br />an agent in this state for service of process. <br />(g) A title loan lender licensed pursuant to this section shall apply to the <br />Department for a new license upon a change in ownership of twenty five percent (25%) or <br />more by a natural person in any title loan location or office. No application for a license or <br />an application for transfer of an existing license is required for any change, directly, or <br />beneficially, in the ownership of a title loan location if one or more of the holders of at least <br />seventy five percent (75016) of the outstanding equity interest in the title loan location or office <br />before the change in ownership continue to hold at least seventy five percent (75%) of the <br />outstanding equity interest in the title loan location or office after the change in ownership. <br />(h) To be eligible for a license to engage in title loan transactions, an applicant <br />must: <br />SEPTEMBER 289 1999 <br />• <br />-121- C,ar� J FACE ° <br />