04 NCAC 03E .0204          TRANSFER OF LICENSE AND CHANGE OF LOCATION

(a)  Transfer or assignment.  Before a licensee may transfer or assign its license to another entity, the licensee shall apply to the Commissioner of Banks for authority to do so.  Request shall be by letter which shall set forth the name, address and telephone number of the proposed transferee or assignee, the reasons for the transfer or assignment and the date upon which the licensee proposes to make the transfer or assignment.  The request letter shall also be accompanied by a fee of one hundred dollars ($100.00) payable to the Commissioner of Banks for each license proposed for transfer or assignment together with written acknowledgement of the proposed transaction by the transferee or assignee.  Transfer or assignments to other than existing licensees will not be approved.  If the request is approved, the licensee shall surrender to the Commissioner of Banks its consumer finance license for reissuance to the transferee or assignee.

(b)  Change of Location.  Prior to any change in the business location of a licensee, the licensee shall apply to the Commissioner of Banks for authority to do so.  The request shall be by letter setting forth the address  of the new location and shall be accompanied by a fee of twenty five dollars ($25.00) payable to the Commissioner of Banks.  If the request is approved, the licensee shall submit to the Commissioner of Banks its license for amendment.

 

History Note:        Authority G.S. 53‑122(3); 53‑168(e); 53‑170(a); 150B‑21.2;

Eff. January 1, 1993.