(c) Voluntary surrender of a license will be effective upon the date of surrender specified from the written notice to your commissioner as needed by this part; so long as the licensee has met all of the needs of voluntary surrender and it has came back the original permit granted.
-39 purchase or transfer of permit; modification of control. (a) No dollar that is small permit will be moved, except as supplied in this part.
(b) an individual or selection of people asking for approval of the proposed modification of control over a licensee shall submit towards the commissioner a credit card applicatoin asking for approval of the proposed modification of control over the licensee, associated with a nonrefundable application charge of $500.
(c) After writeup on an ask for approval under subsection (b), the commissioner may necessitate the licensee or individual or selection of people asking for approval of the proposed modification of control of the licensee, or both, to supply extra information concerning the people whom shall take close control for the licensee. The information that is additional be limited by comparable information required regarding the licensee or individuals in charge of the licensee as an element of its initial permit or renewal application under parts -33 and -36. The information and knowledge shall consist of, when it comes to five-year duration prior to your date of this application for modification of control of the licensee, a brief history of product litigation and unlawful beliefs of every individual who, upon approval for the application for modification of control, is supposed to be a principal associated with licensee. Authorization shall additionally be provided to conduct history that is criminal checks of the people, combined with the correct re re payment for the relevant cost for every record check.
(d) The commissioner shall accept an ask for modification of control under subsection (b) if, after research, the commissioner determines that the individual or band of people approval that is requesting the competence, experience, character, and basic fitness to regulate the licensee or individual accountable for the licensee in a legal and appropriate manner, and therefore the passions for the public won’t be jeopardized because of the modification of control.
( ag ag e) the persons that are following be exempt through the needs of subsection (b), nevertheless the licensee irrespective shall alert the commissioner whenever an alteration of control outcomes in the annotated following:
(1) someone who will act as a proxy when it comes to purpose that is sole of at a designated conference of this safety holders or holders of voting passions of a licensee or individual in charge of a licensee;
(2) someone who acquires control over a licensee by devise or lineage;
(3) an one who acquires control as being a representative that is personal custodian, guardian, conservator, trustee, or as an officer appointed by a court of competent jurisdiction or by procedure of legislation; or
(4) an individual who the commissioner, by guideline or purchase, exempts within the general public interest.
(f) Before filing an ask for approval for a big change of control, an individual may request, on paper, a dedication through the commissioner as to if the individual could be considered an individual in control of a licensee upon consummation of the proposed transaction. In the event that commissioner determines that the individual wouldn’t be an individual in charge of a licensee, the commissioner shall enter an purchase compared to that effect in addition to proposed person and deal shall never be susceptible to subsections (b) through (d).
(g) Subsection (b) shall perhaps maybe maybe not connect with general general public offerings of securities.
-40 Authorized places of company; major workplace ; branch workplaces; moving; closing. (a) Every dollar that is small certified under this chapter shall have and keep maintaining a major office when you look at the State, whether or not the little dollar loan provider keeps its major workplace not in the State.
(b) in case a little buck loan provider has one or more bar or nightclub, each extra bar or nightclub in Hawaii https://approved-cash.com/payday-loans-wv/romney/ will be certified as a branch workplace with all the commissioner. No company will probably be carried out at a branch workplace before the branch workplace happens to be certified because of the commissioner.
(c) a dollar that is small shall perhaps perhaps perhaps not keep any branch workplaces when you look at the State as well as its major bar or nightclub minus the previous penned approval of this commissioner. A software to determine a branch workplace will probably be submitted through NMLS with a nonrefundable application charge as required by section -35.
(d) a dollar that is small shall maybe not relocate any workplace in this State minus the previous penned approval of this commissioner. A software to relocate an workplace will probably be submitted to your commissioner at the least 30 days ahead of relocating and shall established the reason why for the moving, the road target regarding the proposed office that is relocated along with other information which may be needed because of the commissioner. A software to relocate an office pursuant for this subsection will be submitted having a nonrefundable cost as needed by section -35.
( ag ag e) a dollar that is small shall provide the commissioner notice of their intent to shut a branch workplace at the very least 30 days before the closing. The notice shall:
(1) State the intended date of closing; and
(2) Specify the reason why for the closing.
(f) the main office and every branch workplace regarding the little buck loan provider will probably be identified in NMLS to consumers as a spot of which the licensee holds it self down as a dollar lender that is small.
(g) a permit given under this chapter will be prominently shown into the major bar or nightclub and each branch workplace.
-41 re re Payment of charges. All fees collected pursuant to part -35, administrative fines, as well as other charges gathered pursuant for this chapter will be deposited in to the conformity resolution fund established pursuant to area 269(o) and will be payable through NMLS, towards the level permitted by NMLS. Costs maybe perhaps perhaps maybe not qualified to receive re re payment through NMLS will be deposited right into an account that is separate the conformity quality investment to be used because of the unit.
-42 Powers of commissioner. (a) The commissioner may follow guidelines pursuant to chapter 91 since the commissioner deems essential for the management for this chapter.
(b) as well as any kind of abilities given by legislation, the commissioner shall have the authority to:
(1) problem declaratory rulings or casual nonbinding interpretations;
(2) Investigate and conduct hearings regarding any breach of the chapter or any guideline or purchase of, or contract with, the commissioner;
(3) Create committees that are fact-finding can make guidelines towards the commissioner when it comes to commissioner’s deliberations;
(4) need a job candidate or any one of its control people, executive officers, directors, basic lovers, and handling people to reveal their appropriate history that is criminal demand a criminal background record sign in conformity with chapter 846;
(5) agreement with or employ qualified persons, including accountants, solicitors, detectives, examiners, auditors, or any other experts who could be exempt from chapter 76 and whom shall help the commissioner in working out the commissioner’s abilities and duties;
(6) Process and investigate complaints, subpoena witnesses and papers, administer oaths, and enjoy affidavits and testimony that is oral including telephonic communications, and do any and all sorts of things necessary or incidental into the workout of this commissioner’s energy and duties, such as the authority to conduct contested situation procedures under chapter 91;
(7) need a licensee to adhere to any guideline, guidance, guideline, declaration, supervisory policy or any comparable proclamation granted or used because of the Federal Deposit Insurance Corporation to your exact exact exact same level as well as in exactly the same way as a bank chartered by their state or, when you look at the alternative, any policy place of this Conference of State Bank Supervisors;
(8) come right into agreements or relationships along with other federal federal government officials or regulatory associations so that you can enhance efficiencies and minimize burden that is regulatory sharing resources, standardized or uniform methods or procedures, and papers, documents, information, or proof acquired under this chapter ;
(9) usage, employ, agreement, or use public or independently available systems that are analytical practices, or pc pc computer software to analyze or examine a licensee or person susceptible to this chapter;
(10) Accept and depend on investigation or assessment reports produced by other federal federal government officials, within or without this State; and
(11) Accept review reports produced by a completely independent certified general public accountant for the licensee or person at the mercy of this chapter for the duration of that an element of the assessment within the exact exact same general subject material since the review that can include the review report into the report of this assessment, report of research, or other writing associated with commissioner.