(c) Voluntary surrender of the permit will be effective upon the date of surrender specified from the written notice into the commissioner as needed by this part; so long as the licensee has met all of the demands of voluntary surrender and has now came back the initial permit given.
-39 purchase or transfer of permit; modification of control. (a) No little buck loan provider permit will probably be transported, except as supplied in this area.
(b) an individual or band of individuals asking for approval of a proposed modification of control over a licensee shall submit to your commissioner a credit card applicatoin asking for approval of a proposed modification of control over the licensee, followed by an application that is nonrefundable of $500.
(c) After summary of an ask for approval under subsection (b), the commissioner may need the licensee or individual or band of individuals asking for approval of a proposed modification of control over the licensee, or both, to present extra information concerning the people whom shall take solid control associated with the licensee. The information that is additional be limited by comparable information needed of this licensee or people in charge of the licensee as an element of its initial permit or renewal application under parts -33 and -36. The knowledge shall consist of, when it comes to five-year duration prior towards the date associated with application for modification of control of the licensee, a brief history of product litigation and criminal convictions of each and every individual who, upon approval for the application for modification of control, will soon be a principal associated with licensee. Authorization shall additionally be provided to conduct history that is criminal checks of these individuals, associated with the correct re re payment for the relevant cost for every record check.
(d) The commissioner shall accept an ask for change of control under subsection (b) if, after research, the commissioner determines that the individual or set of individuals asking for approval has the competence, experience, character, and basic physical physical physical fitness to manage the licensee or individual in charge of the licensee in a legal and appropriate way, and therefore the passions of this public won’t be jeopardized because of the modification of control.
( ag e) the persons that are following be exempt through the needs of subsection (b), nevertheless the licensee irrespective shall alert the commissioner whenever an alteration of control outcomes in the annotated following:
(1) someone who will act as a proxy for the single reason for voting at a designated conference of this safety holders or holders of voting passions of the licensee or individual in charge of a licensee;
(2) an individual who acquires control over a licensee by devise or lineage;
(3) an individual who acquires control being a individual agent, custodian, guardian, conservator, trustee, or as an officer appointed by way of a court of competent jurisdiction or by procedure of legislation; or
(4) an individual who the commissioner, by guideline or purchase, exempts within the interest that is public.
(f) Before filing an ask for approval for an alteration of control, an individual may request, written down, a dedication through the commissioner as to if the individual will be considered an individual accountable for a licensee upon consummation of the proposed transaction. In the event that commissioner determines that the individual wouldn’t be an individual in control of a licensee, the commissioner shall enter an purchase compared to that impact while the proposed person and deal shall never be at the mercy of subsections (b) through (d).
(g) Subsection (b) shall perhaps maybe maybe not connect with general public offerings of securities.
-40 Authorized places of company; major workplace ; branch workplaces; moving; closure. (a) Every little buck loan provider certified under this chapter shall have and keep maintaining a major bar or nightclub into the State, no matter whether the little buck loan provider keeps its major workplace outside the State.
(b) in cases where a dollar that is small has one or more bar or nightclub, each extra bar or nightclub in Hawaii will be certified being a branch workplace because of the commissioner. No company will probably be carried out at a branch office before the branch workplace is licensed because of the commissioner.
(c) a little buck loan provider shall maybe maybe not keep any branch workplaces into the State as well as its major bar or nightclub without having the previous penned approval of this commissioner. A credit card applicatoin to determine a branch workplace will probably be submitted through NMLS by having an application that is nonrefundable as required by section -35.
(d) a dollar that is small shall maybe maybe maybe not relocate any workplace in this State minus the previous penned approval of this commissioner. A credit card applicatoin to relocate an workplace will be submitted towards the commissioner at the least 30 days ahead of relocating and shall established the causes for the moving, the road target associated with proposed relocated workplace, along with other information which may be needed because of the commissioner. A credit card applicatoin to relocate a workplace pursuant for this subsection will be submitted with a fee that is nonrefundable needed by section -35.
( ag e) a dollar that is small shall supply the commissioner notice of its intent to close a branch workplace at the least 30 days ahead of the closing. The notice shall:
(1) State the intended date of closing; and
(2) Specify the causes for the closing.
(f) the main office and every branch workplace regarding the tiny buck loan provider will probably be identified in NMLS to consumers as a spot of which the licensee holds it self away being a dollar lender that is small.
(g) a permit granted under this chapter will be prominently presented when you look at the major bar or nightclub and every branch office.
-41 re Payment of charges. All fees gathered pursuant to part -35, administrative fines, as well as other charges collected pursuant to the chapter will be deposited to the conformity resolution fund established pursuant to area 269(o) and will be payable through NMLS, into the degree permitted by NMLS. Charges maybe perhaps not qualified to receive re payment through NMLS will be deposited in to an account that is separate the conformity quality investment for usage because of the unit.
-42 Powers of commissioner. (a) The commissioner may follow guidelines pursuant to chapter 91 due to the fact commissioner deems essential for the management with this chapter.
(b) along with just about any capabilities given by legislation, the commissioner shall have the authority to:
(1) problem declaratory rulings or nonbinding that is informal;
(2) Investigate and conduct hearings regarding any breach with this chapter or any guideline or purchase of, or contract with, the commissioner;
(3) Create committees that are fact-finding will make guidelines into the commissioner for the commissioner’s deliberations;
(4) need a job candidate or some of its control people, executive officers, directors, basic lovers, and handling people to reveal their appropriate history that is criminal demand a criminal background record sign in conformity with chapter 846;
(5) agreement with or employ qualified persons, including accountants, lawyers, detectives, examiners, auditors, or any other experts who might be exempt from chapter 76 and who shall help the commissioner in working out the commissioner’s capabilities and duties;
(6) Process and investigate complaints, subpoena witnesses and papers, administer oaths, and accept affidavits and testimony that is oral including telephonic communications, and do any and all sorts of things necessary or incidental into the workout of this commissioner’s energy and duties, such as the authority to conduct contested situation procedures under chapter 91;
(7) need a licensee to conform to any guideline, guidance, guideline, statement, supervisory policy or any comparable proclamation given or used by the Federal Deposit Insurance Corporation into the exact exact same degree as well as in the exact same way as a bank chartered by their state or, within the alternative, any policy position associated with the Conference of State Bank Supervisors;
(8) come right into agreements or relationships along with other federal federal federal federal government officials or regulatory associations so that you can enhance efficiencies and lower regulatory burden by sharing resources, standardized or uniform methods or procedures, and papers, documents, information, or proof acquired under this chapter ;
(9) usage, employ, agreement, or use public or independently available systems that are analytical techniques, or pc pc software to analyze or examine a licensee or person at the mercy of this chapter;
(10) Accept and depend on investigation or assessment reports created by other federal federal government officials, payday loans Columbia South Dakota within or without this State; and
(11) Accept review reports produced by an unbiased certified accountant that is public the licensee or person at the mercy of this chapter for the duration of that area of the assessment within the exact exact same general material given that review and may even integrate the review report within the report associated with assessment, report of research, or any other writing regarding the commissioner.