A. Each secondhand precious metals dealer's license issued by the Secretary of Labor expires on April 30 of each even-numbered year, irrespective of the date when the license was issued.
B. If a fully executed application for renewal is filed before the expiration of a dealer's license, the licensee may continue to operate as a dealer while the application for renewal is pending.
C. If an application for renewal is not filed until after the expiration of a dealer's license, the dealer may not engage in the secondhand precious metals business until the required State police investigation is complete and the application for renewal is finally approved by the Secretary of Labor.