§ 19-14-1. Definitions. Unless otherwise specified, the following terms shall have the following meanings throughout chapters 14, 14.1, 14.2, 14.3, 14.4, 14.6, 14.8, 14.10, and 14.11 of this title: (1) “Bona fide employee” shall mean an employee of a licensee who works under the oversight and supervision of the licensee. (2) “Check” means any check, […]
§ 19-14-10. Agent for service of process. (a) Every licensee shall appoint, and thereafter maintain, in this state a resident agent with authority to accept process for the licensee in this state, including the process of garnishment. (1) The appointment shall be filed with the director, or the director’s designee, electronically through the Nationwide Multistate […]
§ 19-14-11. Prohibition or transfer or assignment of license. No license shall be transferable or assignable. A change in ownership of less than twenty-five percent (25%) of the voting stock or equity interests of a licensee shall not be considered a transfer or assignment of the license. A change in ownership of twenty-five percent (25%) […]
§ 19-14-12. Place of business — Branch offices — Name changes. (a) Additional places of business may be maintained under the same license upon written application to the director, or the director’s designee, for the establishment of an additional branch office. A separate application must be filed for each additional branch office being requested. At […]
§ 19-14-13. Revocation of license. (a) The director, or the director’s designee, may, upon ten (10) days’ notice to the licensee, stating his or her intent to revoke and the grounds for revocation, and upon reasonable opportunity for the licensee to be heard, revoke any license issued under this chapter, upon finding that: (1) The […]
§ 19-14-14. Revocation by default. (a) The director, or the director’s designee, may revoke any license without a hearing by default if the licensee fails to respond to notifications informing the licensee of a failure to pay the annual license fee; maintain in effect the required bond or bonds; or maintain net worth requirements as […]
§ 19-14-15. Suspension of license. The director, or the director’s designee, may, upon three (3) days’ notice and an opportunity for hearing, suspend any license for a period not exceeding thirty (30) days, pending investigation. History of Section.P.L. 1995, ch. 82, § 52.
§ 19-14-16. Surrender of license. Any licensee may surrender any license or branch certificate(s) by delivering to the director, or the director’s designee, electronic notice through the Nationwide Multistate Licensing System surrendering the license or branch certificate(s). The surrender shall not affect the licensee’s civil or criminal liability for acts committed prior to the surrender. […]
§ 19-14-17. Contracts unimpaired by revocation, suspension, or surrender of license. Any revocation, suspension, or surrender of a license shall not impair or affect the obligation of any preexisting lawful contract between the licensee and any customer. History of Section.P.L. 1995, ch. 82, § 52.
§ 19-14-18. Reinstatement of license. Every license issued under this chapter shall remain in force and effect until it shall have been surrendered, revoked, or suspended in accordance with the provisions of this chapter. The director, or the director’s designee, shall have authority on his or her own initiative to reinstate suspended licenses or to […]
§ 19-14-19. Filing findings on revocation or suspension. Whenever the director, or the director’s designee, shall revoke or suspend a license issued pursuant to this chapter, the director shall file, in his or her office, a written order to that effect containing the evidence and the reason(s) supporting the revocation or suspension, and serve upon […]
§ 19-14-2. Licenses required. (a) No person shall engage within this state in the business of: (1) Making or funding loans or acting as a lender or small loan lender; (2) Brokering loans or acting as a loan broker; (3) Providing currency transmission for a fee or other consideration; (4) Cashing checks for a fee […]
§ 19-14-20. Books, accounts, and records. (a) The licensee shall keep and use any books, accounts, and records, that may be maintained by optical imaging, as will enable the director, or the director’s designee, to determine whether the licensee is complying with the provisions of this title and with the rules and regulations lawfully made […]
§ 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 […]
§ 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 […]
§ 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 […]
§ 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 […]
§ 19-14-25. Transactions and place of business limited by license — Remote locations. (a) No licensee shall transact the business provided for by this chapter under any other name or at any other place of business than that named in the license or branch certificate, unless that place is for the exclusive convenience of the […]
§ 19-14-26. Penalty for violations. (a) If a person other than a licensee engages in activity for which licensure is required by this title with or on behalf of a resident in violation of this chapter, the department may assess a civil penalty against the person in an amount not to exceed five thousand dollars […]
§ 19-14-26.1. Additional penalties. (a) Any person who makes or brokers a loan not invalid for any other reason who knowingly violates § 19-14-2 shall, in the discretion of the court, forfeit and have no right to collect or receive any interest, fees, or charges whatsoever. (b) In the case of any unlicensed transaction involving […]
