(1) All registrations under ORS 837.040 expire annually on the anniversary of the date the aircraft is originally registered with the Oregon Department of Aviation.
(2) The owner of an aircraft subject to renewal of registration shall renew the registration on or before the date of expiration by filing a form provided by the department and paying the fee for renewal of registration established in ORS 837.045. The department may impose a late fee on a person who fails to renew registration within the time required in the same manner and in the same amounts as late fees imposed under ORS 837.040. [Formerly 493.110; 1991 c.186 §3; 1997 c.585 §9; 2005 c.75 §4]