§ 19-14-27. Modification or repeal of chapter. This chapter, or any part of this chapter, may be modified, amended, or repealed so as to effect a cancellation or alteration of any license or right of a licensee hereunder, provided that the cancellation or alteration shall not impair or affect the obligation of any pre-existing lawful […]
§ 19-14-28. Appeal from director. Any applicant or licensee aggrieved by an action of the director, or the director’s designee, in denying an application for a license or in revoking or suspending a license, or by any order or decision of the director, or the director’s designee, shall have the right to appeal the action, […]
§ 19-14-29. Appropriations — Fees. The general assembly shall annually appropriate any sums it may deem sufficient for clerical assistance and necessary expenses in carrying out the provisions of this chapter. The state controller is authorized and directed to draw orders upon the general treasurer for the payment of the sums appropriated, or so much […]
§ 19-14-3. Application for license. (a) The application for a license shall be in the form prescribed by the director and shall contain the name and address or addresses where the business of the applicant is located and if the applicant is a partnership, association, corporation, or other form of business organization, the names and […]
§ 19-14-30. Rules and regulations. The director, or the director’s designee, may adopt reasonable rules and regulations for the implementation and administration of the provisions of this chapter. The director, or the director’s designee, shall adopt and amend reasonable rules and regulations, not later than March 31, 2008, as may be necessary to effectuate and […]
§ 19-14-31. Pre-existing contracts. Nothing contained in this chapter shall be construed to impair or affect the obligation of any contract or loan lawfully entered into prior to July 1, 1995. History of Section.P.L. 1995, ch. 82, § 52.
§ 19-14-32. Severability. If any provision of this chapter or the application of this chapter to any person or circumstances is held invalid or unconstitutional, the invalidity or unconstitutionality shall not affect other provisions or applications of this chapter that can be given effect without the invalid or unconstitutional provision or application, and to this […]
§ 19-14-33. Compliance with federal law governing licensed activities. (a) Each licensee shall comply with all applicable federal laws, rules, and regulations, as amended, governing activities conducted under its license. (b) Each licensee shall exercise due diligence in accordance with the rules and regulations promulgated pursuant to § 19-14-30 in confirming its compliance with applicable […]
§ 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 […]
§ 19-14-4. Annual fee. (a) Each licensee shall pay an annual license fee as follows: (1) Each small-loan lender license and each branch certificate, the sum of five hundred fifty dollars ($550); (2) Each loan-broker license and each branch certificate, the sum of five hundred fifty dollars ($550); (3) Each lender license and each branch […]
§ 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 […]
§ 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 […]
§ 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 […]
§ 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) […]
§ 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 […]
