Section 28-46-301 – AUTHORITY TO MAKE REGULATED CONSUMER LOANS — EXEMPTION FROM LICENSING.
28-46-301. AUTHORITY TO MAKE REGULATED CONSUMER LOANS — EXEMPTION FROM LICENSING. (1) The administrator shall receive and act on all applications for licenses to make regulated consumer loans under this act. Applications shall be filed in the manner prescribed by the administrator and shall contain such information as the administrator may reasonably require. Unless a […]
Section 28-46-411 – APPLICATION OF ADMINISTRATIVE PROCEDURE ACT.
28-46-411. APPLICATION OF ADMINISTRATIVE PROCEDURE ACT. Except as otherwise provided, the Idaho administrative procedure act, as set forth in chapter 52, title 67, Idaho Code, applies to and governs all administrative action taken by the administrator pursuant to this act. History: [28-46-411, added 2003, ch. 182, sec. 1, p. 495.]
Section 28-46-302 – LICENSE TO MAKE REGULATED CONSUMER LOANS.
28-46-302. LICENSE TO MAKE REGULATED CONSUMER LOANS. (1) The administrator shall receive and act on all applications for a license to do business as a regulated lender. Applications shall be filed in the manner prescribed by the administrator, shall contain such information as the administrator may reasonably require, shall be updated as necessary to keep […]
Section 28-46-303 – REVOCATION OR SUSPENSION OF LICENSE.
28-46-303. REVOCATION OR SUSPENSION OF LICENSE. (1) The administrator may issue to a person licensed to make regulated consumer loans an order to show cause why his license should not be revoked or suspended for a period not in excess of six (6) months. The order shall state the place for a hearing and set […]
Section 28-46-304 – RECORDS — ANNUAL REPORTS.
28-46-304. RECORDS — ANNUAL REPORTS. (1) Every regulated lender shall maintain records in conformity with generally accepted accounting principles and practices in a manner that will enable the administrator to determine whether the regulated lender is complying with the provisions of this act. The recordkeeping system of a regulated lender shall be sufficient if he […]
Section 28-46-305 – EXAMINATIONS AND INVESTIGATIONS.
28-46-305. EXAMINATIONS AND INVESTIGATIONS. (1) The administrator may examine periodically at intervals he deems appropriate, the loans and business records of every regulated lender. In addition, for the purpose of discovering violations of this act or securing information lawfully required, the administrator may at any time investigate the loans, business, and records of any regulated […]
Section 28-46-306 – APPLICATION OF ADMINISTRATIVE PROCEDURE ACT TO PART.
28-46-306. APPLICATION OF ADMINISTRATIVE PROCEDURE ACT TO PART. Except as otherwise provided, the state Administrative Procedure Act, chapter 52, title 67, Idaho Code, applies to and governs all administrative action taken by the administrator pursuant to this part. History: [28-46-306, added 1983, ch. 119, sec. 3, p. 310.]
Section 28-46-401 – DEFINITIONS.
28-46-401. DEFINITIONS. (1) As used in this act, unless the context otherwise requires, "payday loan" means a transaction pursuant to a written agreement between a creditor and the maker of a check whereby the creditor: (a) Accepts a check from the maker; (b) Agrees to hold the check for a period of time prior to […]
Section 28-46-402 – LICENSE REQUIRED.
28-46-402. LICENSE REQUIRED. (1) No person shall engage in the business of payday loans, offer or make a payday loan, or arrange a payday loan for a third party lender in a payday loan transaction without having first obtained a license under this chapter. A separate license shall be required for each location from which […]
Section 28-46-403 – QUALIFICATIONS FOR PAYDAY LOAN LICENSE.
28-46-403. QUALIFICATIONS FOR PAYDAY LOAN LICENSE. (1) To qualify for a license, an applicant shall satisfy the following requirements: (a) The applicant shall have liquid assets of at least thirty thousand dollars ($30,000) determined in accordance with generally accepted accounting principles, provided that applicants seeking to engage in the business of payday loans at more […]