37-25A-12. Term of registration--Renewal statement and fee--Sales report. The registration is effective for one year commencing on the date of effectiveness and may be renewed annually upon the filing of a current disclosure document accompanied by any document or information that the director of the Division of Insurance required. The registration renewal statement shall be in the form and content prescribed by the director and shall be accompanied by a renewal fee of fifty dollars. Failure to renew upon the close of the one-year period of effectiveness shall result in the expiration of the registration. The director may require the filing of a sales report.