6-110. Financial institutions division; deputy director The financial institutions division is established in the department. The director shall appoint a deputy director of the financial institutions division of the department to assist the director with the execution of the laws of this state relating to financial institutions and enterprises. The deputy director serves at the […]
6-112. Assistant director; examiners; personnel Subject to title 41, chapter 4, article 4, the director: 1. Shall appoint an assistant director who shall have the power and perform the duties of the deputy director of the financial institutions division of the department. The assistant director shall hold the appointment at the will and pleasure of […]
6-113. Acts prohibited; officers; employees A. The director, the deputy director, the assistant director and any personnel of the department may not do any of the following with respect to any financial institution or enterprise under the jurisdiction of the department: 1. Be indebted, directly or indirectly, as borrower, accommodation endorser, surety or guarantor, to […]
6-114. Balloon payments prohibited; applicability; exemptions A. A person engaged in the business of lending money or negotiating a loan between parties shall not make or arrange a loan in violation of this section. B. On a loan in an amount of ten thousand dollars or less for a term up to three years which […]
6-115. Insurance premium transmitters; timely payment required; civil penalty A. A person who contracts to receive a payment that includes an amount for payment of a mortgage, deed of trust or any other obligation secured by real estate and any amounts to be tendered for payment of an insurance policy premium, a property tax assessment […]
6-116. Sale of securities; disclosure A. A financial institution doing business in this state or any other person shall not sell or offer to sell equity securities or debt instruments to the public in a financial institution’s retail office where deposits are accepted without the prior written approval of the deputy director. B. A financial […]
6-117. Assumed business name; trade name; notification; definition A. Unless otherwise required by this title or rules adopted by the department, an enterprise or a consumer lender is not required to obtain a separate license when doing business under an assumed name or a trade name if the enterprise or consumer lender notifies the department […]
