Legislation
SECTION 343
License provisions; separate license for each place of business; change of location
Banking (BNK) CHAPTER 2, ARTICLE 9
§ 343. License provisions; separate license for each place of
business; change of location. 1. A license shall state the address at
which the business is to be conducted and shall state fully the name of
the licensee, and if the licensee is a partnership or association, the
names of the members thereof, and if a corporation, the date and place
of its incorporation. A master license shall be kept conspicuously
posted in the principal place of business of the licensee and a
supplemental license shall be conspicuously posted at the location
identified in the license. No master or supplemental license shall be
transferable or assignable.
2. A separate license shall be required for each location at which a
licensee makes loans under the provisions of this article. The
superintendent may issue more than one license to the same licensee. For
each new license, the licensee shall comply with all the requirements
for obtaining a license as stated in this article.
3. (a) A licensee may change the location of a licensed lender
business by giving written notice to the superintendent at least thirty
days prior to such change. The licensee shall pay to the superintendent
a fee as prescribed pursuant to section eighteen-a of this chapter for
each change of location and shall provide any information which may be
required regarding the change of location.
(b) The superintendent shall, if satisfied that there is no reasonable
objection to such change of location and upon the surrender of the
license for the location which is being changed, issue a license
containing the information required by subdivision one of this section.
If the superintendent shall not be satisfied that such change is in
accordance with the purposes of this article, the superintendent shall
refuse such change of location and notify the licensee of the
determination.
business; change of location. 1. A license shall state the address at
which the business is to be conducted and shall state fully the name of
the licensee, and if the licensee is a partnership or association, the
names of the members thereof, and if a corporation, the date and place
of its incorporation. A master license shall be kept conspicuously
posted in the principal place of business of the licensee and a
supplemental license shall be conspicuously posted at the location
identified in the license. No master or supplemental license shall be
transferable or assignable.
2. A separate license shall be required for each location at which a
licensee makes loans under the provisions of this article. The
superintendent may issue more than one license to the same licensee. For
each new license, the licensee shall comply with all the requirements
for obtaining a license as stated in this article.
3. (a) A licensee may change the location of a licensed lender
business by giving written notice to the superintendent at least thirty
days prior to such change. The licensee shall pay to the superintendent
a fee as prescribed pursuant to section eighteen-a of this chapter for
each change of location and shall provide any information which may be
required regarding the change of location.
(b) The superintendent shall, if satisfied that there is no reasonable
objection to such change of location and upon the surrender of the
license for the location which is being changed, issue a license
containing the information required by subdivision one of this section.
If the superintendent shall not be satisfied that such change is in
accordance with the purposes of this article, the superintendent shall
refuse such change of location and notify the licensee of the
determination.