(c) Voluntary surrender of the permit will probably 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 most of the demands of voluntary surrender and it has came back the license that is original.
-39 purchase or transfer of permit; modification of control. (a) No tiny buck loan provider permit will probably be moved, except as provided in this part.
(b) an individual or band of people asking for approval of the proposed modification of control of a licensee shall submit to your commissioner a credit card applicatoin asking for approval of a proposed modification of control over the licensee, combined with a nonrefundable application cost of $500.
(c) After report about an ask for approval under subsection (b), the commissioner may need the licensee or individual or set of people asking for approval of a proposed modification of control over the licensee, or both, to supply information that is additional the individuals whom shall take control associated with licensee. The more information shall be restricted to comparable information needed regarding the licensee or individuals in charge of the licensee included in its initial permit or renewal application under parts -33 and -36. The info shall add, when it comes to five-year duration prior towards the date associated with application for modification of control over the licensee, a history of product litigation and unlawful beliefs of every individual who, upon approval for the application for modification of control, will likely be a principal regarding the licensee. Authorization shall additionally be provided to conduct criminal background record checks of the people, combined with the right re re re payment regarding the relevant cost for every 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 set of individuals approval that is requesting the competence, experience, character, and basic fitness to regulate the licensee or individual in charge of the licensee in a legal and appropriate way, and therefore the passions of this public will never be jeopardized because of the modification of control.
( ag ag ag e) the persons that are following be exempt through the demands of subsection (b), however the licensee irrespective shall inform the commissioner whenever an alteration of control outcomes in the annotated following:
(1) somebody who will act as a proxy when it comes to purpose that is sole of at a designated conference for the protection holders or holders of voting passions of the licensee or individual accountable for a licensee;
(2) an individual who acquires control over a licensee by devise or lineage;
(3) someone who acquires control being a individual agent, custodian, guardian, conservator, trustee, or being an officer appointed by a court of competent jurisdiction or by procedure of legislation; or
(4) an individual whom the commissioner, by guideline or order, exempts within the general public interest.
(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 someone accountable for a licensee upon consummation of a proposed transaction. The commissioner shall enter an order to that effect and the proposed person and transaction shall not be subject to subsections (b) through (d) if the commissioner determines that the person would not be a person in control of a licensee.
(g) Subsection (b) shall maybe maybe maybe perhaps not connect with general public offerings of securities.
-40 Authorized places of company; major workplace ; branch workplaces; moving; closure. (a) Every tiny buck loan provider certified under this chapter shall have and keep a major bar or nightclub into the State, no matter whether the tiny buck loan provider keeps its major office not in the State.
(b) in case a dollar that is small has one or more bar or nightclub, each extra office in Hawaii will probably be certified as a branch workplace with all the commissioner. No company will probably be carried out at a branch workplace through to the branch workplace happens to be certified because of the commissioner.
(c) a tiny buck loan provider shall maybe maybe perhaps maybe not keep any branch workplaces within the State along with its major bar or nightclub without having the previous penned approval of this commissioner. A software to establish a branch workplace will be submitted through NMLS having a nonrefundable application charge as needed by section -35.
(d) a tiny buck loan provider shall maybe perhaps perhaps not relocate any workplace in this State minus the previous penned approval of this commissioner. A credit card applicatoin to relocate a workplace will probably be submitted into the commissioner at the very least 30 days ahead of relocating and shall established the causes when it comes to moving, the road target regarding the proposed office that is relocated as well as other information which may be needed because of the commissioner. A credit card applicatoin to relocate a workplace pursuant to the subsection will be submitted with a fee that is nonrefundable needed by section -35.
( ag ag ag e) a little buck loan provider shall provide the commissioner notice of their intent to shut a branch workplace at Sugar Land bad credit payday loans no credit check the least four weeks before the closing. The notice shall:
(1) State the intended date of closing; and
(2) Specify the reason why for the closing.
(f) the key office and every branch workplace of this tiny buck loan provider will probably be identified in NMLS to consumers as a place of which the licensee holds it self down being a dollar lender that is small.
(g) a permit released under this chapter will be prominently exhibited when you look at the major bar or nightclub and every branch workplace.
-41 re re Payment of charges. All fees gathered pursuant to part -35, administrative fines, as well as other fees gathered pursuant for this chapter will be deposited to the conformity resolution fund established pursuant to part 269(o) and will be payable through NMLS, towards the level permitted by NMLS. Costs perhaps maybe not qualified to receive re re payment through NMLS will probably be deposited right into a split account within the conformity quality investment for usage because of the unit.
-42 Powers of commissioner. (a) The commissioner may follow guidelines pursuant to chapter 91 since the commissioner deems required for the management of the chapter.
(b) along with some 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 of the chapter or any rule or purchase of, or contract with, the commissioner;
(3) Create committees that are fact-finding can make guidelines to your commissioner when it comes to commissioner’s deliberations;
(4) need a job candidate or some 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, solicitors, detectives, examiners, auditors, or any other experts who could be exempt from chapter 76 and who 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 to your workout associated with the commissioner’s energy and duties, such as the authority to conduct contested situation procedures under chapter 91;
(7) need a licensee to adhere to any guideline, guidance, guideline, declaration, supervisory policy or any comparable proclamation released or used because of the Federal Deposit Insurance Corporation towards the exact exact same degree plus in exactly the same way as being a bank chartered by hawaii or, into the alternative, any policy place for the Conference of State Bank Supervisors;
(8) get into agreements or relationships along with other federal federal government officials or regulatory associations so that you can enhance efficiencies and minimize burden that is regulatory 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, techniques, or pc software to analyze or examine a licensee or person susceptible to this chapter;
(10) Accept and depend on investigation or assessment reports produced by other federal federal federal government officials, within or without this State; and
(11) Accept review reports created by an unbiased certified general public accountant for the licensee or person susceptible to this chapter for the duration of that area of the examination since the exact exact exact same general material given that review that can include the review report into the report for the assessment, report of research, or other writing of this commissioner.