(c) Voluntary surrender of a license will probably be effective upon the date of surrender specified in the written notice towards the commissioner as required by this part; so long as the licensee has met all of the needs of voluntary surrender and it has came back the initial permit released.
-39 purchase or transfer of permit; modification of control. (a) No little buck loan provider permit will be transmitted, except as supplied in this area.
(b) an individual or set of people asking for approval of the proposed modification of control over a licensee shall submit into the commissioner a software asking for approval of the proposed modification of control of the licensee, associated with a nonrefundable application cost of $500.
(c) After overview of an ask for approval under subsection (b), the commissioner may need the licensee or individual or selection of individuals asking for approval of the proposed modification of control over the licensee, or both, to give more information concerning the individuals whom shall take solid control associated with the licensee. The information that is additional be restricted to comparable information needed of this licensee or individuals in charge of the licensee included in its initial license or renewal application under parts -33 and -36. The information and knowledge shall add, when it comes to period that is five-year to your date associated with the application for modification of control of the licensee, a brief history of product litigation and unlawful beliefs of each and every one who, upon approval regarding the application for modification of control, may be a principal regarding the licensee. Authorization shall additionally be provided to conduct history that is criminal checks of the individuals, followed closely by the correct re payment regarding the relevant charge for every single record check.
(d) The commissioner shall accept an ask for modification of control under subsection (b) if, after research, the commissioner determines that the individual or number of people approval that is requesting the competence, experience, character, and basic physical physical physical fitness to manage the licensee or person accountable for the licensee in a legal and appropriate way, and that the passions associated with the public will never be jeopardized because of the modification of control.
( ag ag ag e) the next individuals shall be exempt through the needs of subsection (b), however the licensee irrespective shall inform the commissioner whenever a big change of control outcomes in the immediate following:
(1) someone who will act as a proxy when it comes to purpose that is sole of at a designated conference of this protection holders or holders of voting passions of a licensee or individual in control of a licensee;
(2) somebody who acquires control over a licensee by devise or lineage;
(3) someone who acquires control being a representative that is personal custodian, guardian, conservator, trustee, or as an officer appointed by a court of competent jurisdiction or by operation 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 a big change of control, an individual may request, written down, a dedication through the commissioner as to if the individual will be considered an individual in charge of a licensee upon consummation of a proposed transaction. In the event that commissioner determines that anyone wouldn’t be someone in control of a licensee, the commissioner shall enter an purchase to this impact and also the proposed person and deal shall never be susceptible to subsections (b) through (d).
(g) Subsection (b) shall perhaps maybe perhaps maybe not connect with general general public offerings of securities.
-40 Authorized places of company; major workplace ; branch workplaces; moving; closing. (a) Every dollar that is small certified under this chapter shall have and keep maintaining payday loans open 24 hours Edison a principal bar or nightclub when you look at the State, whether or not the little dollar loan provider keeps its major office not in the State.
(b) if your dollar that is small has one or more bar or nightclub, each extra bar or nightclub in Hawaii will probably be certified as a branch workplace because of the commissioner. No company will probably be carried out at a branch workplace through to the branch workplace is certified because of the commissioner.
(c) a little buck loan provider shall perhaps perhaps not keep any branch workplaces within the State as well as its major bar or nightclub minus the previous penned approval of this commissioner. A credit card applicatoin to establish a branch workplace will be submitted through NMLS having an application that is nonrefundable as needed by section -35.
(d) a little buck loan provider shall maybe perhaps maybe not relocate any workplace in this State minus the previous penned approval of the commissioner. A software to relocate a workplace will be submitted towards the commissioner at the least four weeks just before relocating and shall set forth the causes when it comes to moving, the road target regarding the proposed relocated workplace, along with other information that could be needed because of the commissioner. A credit card applicatoin to relocate an workplace pursuant for this subsection will be submitted having a fee that is nonrefundable needed by section -35.
( ag e) a dollar that is small shall provide the commissioner notice of their intent to shut a branch workplace at the very least four weeks ahead of the closing. The notice shall:
(1) State the intended date of closing; and
(2) Specify the reason why for the closing.
(f) the main office and every branch workplace regarding the little buck loan provider will be identified in NMLS to consumers as a spot from which the licensee holds it self down being a little buck lender.
(g) a permit given under this chapter will probably be prominently shown into the place that is principal of and every branch workplace.
-41 re re re Payment of costs. All fees gathered pursuant to part -35, administrative fines, as well as other fees gathered pursuant for this chapter will probably be deposited in to the conformity resolution fund established pursuant to part 269(o) and will be payable through NMLS, to your degree permitted by NMLS. Costs maybe not qualified to receive re payment through NMLS will probably be deposited in to an account that is separate the conformity quality investment to be used because of the unit.
-42 Powers of commissioner. (a) The commissioner may follow guidelines pursuant to chapter 91 while the commissioner deems needed for the management of the chapter.
(b) as well as every other 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 for this chapter or any guideline or purchase of, or contract with, the commissioner;
(3) Create committees that are fact-finding could make tips into the commissioner when it comes to commissioner’s deliberations;
(4) Require a job candidate or any one of its control people, executive officers, directors, basic lovers, and handling users 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 whom shall help the commissioner in working out the commissioner’s abilities and duties;
(6) Process and investigate complaints, subpoena witnesses and papers, administer oaths, and accept affidavits and dental testimony, including telephonic communications, and do any and all sorts of things necessary or incidental towards the workout associated with commissioner’s energy and duties, like the authority to conduct contested instance procedures under chapter 91;
(7) need a licensee to conform to any guideline, guidance, guideline, declaration, supervisory policy or any comparable proclamation given or used because of the Federal Deposit Insurance Corporation to your same degree plus in exactly the same way being a bank chartered by their state or, when you look at the alternative, any policy place associated with the Conference of State Bank Supervisors;
(8) come into agreements or relationships along with other federal federal federal government officials or regulatory associations to be able to enhance efficiencies and minimize 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 analytical systems, practices, or computer computer computer software to research 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 federal government officials, within or without this State; and
(11) Accept review reports created by a completely independent certified general public accountant for the licensee or person susceptible to this chapter for the duration of that area of the assessment within the exact exact same general material given that review and may also include the review report into the report associated with the assessment, report of research, or other writing associated with commissioner.