An applicant for a license as a manufacturer shall complete an application form prescribed by the commissioner and submit the same to the commissioner along with a nonrefundable application fee of one hundred dollars ($100.00). The applicant shall also submit a surety bond in the amount of fifty thousand dollars ($50,000.00), executed by the applicant as principal and issued by a surety company qualified to do business in the State of Tennessee.
A license as a manufacturer shall expire one (1) year after the date of issuance, unless renewed. Any person desiring to renew a license later than ninety (90) days after the expiration of the license shall submit a new application and meet all other application requirements.
Any manufacturer who fails to renew a license prior to its expiration but before ninety days (90) days after its expiration shall pay a late penalty of fifty dollars ($50.00) in addition to the renewal fee.
Any manufacturer who commences business in this State prior to obtaining proper licensure shall be assessed a civil penalty of five hundred dollars ($500.00) for each manufactured home sold prior to licensure. This paragraph does not apply to any manufacturer who does not manufacture manufactured homes.