§ 6-1417 – Servicing of premium finance agreements
6-1417. Servicing of premium finance agreements A. A licensee may receive and disburse monies in the servicing of premium finance agreements. All monies received in the process of servicing these agreements shall be kept separate, distinct and apart from funds belonging to the licensee and shall be deposited with a financial institution located in this […]
§ 6-1402 – Licensure required; contents of application; fees; nontransferable; branch office permit
6-1402. Licensure required; contents of application; fees; nontransferable; branch office permit A. A person shall not engage in the business of a premium finance company in this state without first being licensed as a premium finance company by the deputy director. A person who is not exempt under section 6-1403 and who advertises for, solicits […]
§ 6-1403 – Exemptions
6-1403. Exemptions A. The licensing requirements of this article do not apply to: 1. Any savings and loan association, bank, savings bank, trust company, consumer lender or credit union authorized to do business in this state. 2. Any agent or broker who is licensed by the department and who allows an insured to pay premiums […]
§ 6-1404 – Denial, suspension or revocation of licenses and branch office permits
6-1404. Denial, suspension or revocation of licenses and branch office permits A. The deputy director may deny a license to a person or suspend or revoke a license if the deputy director finds that an applicant or licensee: 1. Is insolvent as defined in section 47-1201. 2. Refuses to allow an examination by the deputy […]
§ 6-1405 – Issuance of license or branch office permit; license year; requirements
6-1405. Issuance of license or branch office permit; license year; requirements A. If no grounds for denial of a license or branch office permit are found to exist, the deputy director shall, within one hundred twenty days of receiving a complete application, grant the application and issue a license or branch office permit to the […]
§ 6-1241 – Definitions
6-1241. Definitions In this article, unless the context otherwise requires: 1. " Authorized delegate" means a person that a licensee designates to engage in money transmission on behalf of the licensee pursuant to article 1 of this chapter. 2. " Licensee" means a person that is licensed under article 1 of this chapter. 3. " […]
§ 6-1406 – Books and records of premium finance company; access to records
6-1406. Books and records of premium finance company; access to records A. A licensee shall maintain books, accounts and records as prescribed by the deputy director that will enable the deputy director to determine whether the licensee is complying with this article. B. A licensee shall preserve its books, accounts and records of premium finance […]
§ 6-1242 – Reports to the attorney general; investigation; violation; classification
6-1242. Reports to the attorney general; investigation; violation; classification A. Within thirty days after any transaction or series or pattern of transactions that is conducted or attempted by, at or through the business and that involves or aggregates $5, 000 or more in funds or other assets, each licensee and authorized delegate of a licensee […]
§ 6-1407 – Removal of place of business
6-1407. Removal of place of business A licensee may change the licensed place of business by giving written notice to the deputy director, who shall amend the license accordingly.
§ 6-1243 – Investigations
6-1243. Investigations A. The attorney general may conduct investigations within or outside this state to determine if a licensee, authorized delegate, money transmitter, financial institution or person engaged in a trade or business has failed to file a report required by this article or has engaged or is engaging in an act, practice or transaction […]