Section 19-14-34. – Resident agent — Loss payee.
§ 19-14-34. Resident agent — Loss payee. (a) Each licensee shall maintain a resident agent in this state who shall have authority to endorse insurance claim checks on behalf of the licensee. (b) A licensee that has not and will not be included as a loss payee on any insurance policy may be exempted from […]
Section 19-14-5. – Minimum capital.
§ 19-14-5. Minimum capital. Each licensee, licensed pursuant to an application for license filed after June 30, 1995, shall maintain the following minimum-net worth to be evidenced in accordance with regulations promulgated by the director, or the director’s designee. (1) Small-loan lenders, the sum of twenty-five thousand dollars ($25,000); (2) Loan brokers, the sum of […]
Section 19-14-21. – Advertising and misrepresentations.
§ 19-14-21. Advertising and misrepresentations. (a) No licensee or other person shall advertise, print, display, publish, distribute, telecast, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, telecast, or broadcast, in any manner whatsoever any false, misleading, or deceptive statement or representation with regard to the rates, terms, or conditions for […]
Section 19-14-6. – Bond of applicant.
§ 19-14-6. Bond of applicant. (a) An applicant for any license shall file with the director, or the director’s designee, a bond to be approved by him or her in which the applicant shall be the obligor. (b) The amount of the bond shall be as follows: (1) Small-loan lenders, the sum of ten thousand […]
Section 19-14-22. – Reporting requirements.
§ 19-14-22. Reporting requirements. (a) Each licensee shall annually file a report with the director, or the director’s designee, on a quarterly basis, giving any relevant information that the director, or the director’s designee, may reasonably require concerning the business and operations during the reporting period of each licensed place of business conducted by the […]
Section 19-14-7. – Issuance or denial of license.
§ 19-14-7. Issuance or denial of license. (a) Upon the filing of a completed application, the payment of fees and the approval of the bond, the director, or the director’s designee, shall commence an investigation of the applicant. (b) After the investigation determines that a completed application has been filed, the director, or the director’s […]
Section 19-14-23. – Examinations and investigations.
§ 19-14-23. Examinations and investigations. (a) For the purpose of discovering violations of this title or securing information lawfully required, the director, or the director’s designee(s), may at any time investigate the loans and business and examine the books, accounts, records, and files used therein, of every licensee and person who shall be engaged in […]
Section 19-14-8. – Denial of license due to incomplete application.
§ 19-14-8. Denial of license due to incomplete application. If the applicant has failed to provide the information requested by the department to complete the application, the director, or the director’s designee, shall notify the applicant, in writing, that the application shall be considered withdrawn if all information requested is not received within thirty (30) […]
Section 19-14-24. – Tying with other business.
§ 19-14-24. Tying with other business. No licensee shall condition any sale on the requirement that the consumer purchase any other product or service from a specified provider including those providers with whom the licensee is sharing office space. History of Section.P.L. 1995, ch. 82, § 52; P.L. 2022, ch. 338, § 3, effective June […]
Section 19-14-9. – Contents of license.
§ 19-14-9. Contents of license. The license or branch certificate shall contain any information that the director, or the director’s designee, shall require, including the type of activity authorized. In his or her discretion, the director, or the director’s designee, may substitute an electronic record as the confirmation of a license status in substitution for […]