An investment adviser has been formed and the firm and its representatives file their first registration with the State on July 1st. On June 30th of the following year, the firm files renewal registrations for itself and its representatives. Which statement is TRUE under the Uniform Securities Act?
A. Since State registration is good for 1 year, the renewals were filed in a timely manner
B. The firm's registration and its representatives' registrations lapsed after December 31st of the preceding year
C. The firm's registration and its representatives' registrations are good until December 31st of the current year, at which point they must be renewed
D. There is no requirement for annual registration renewals in the State