SECTION .0200 - APPLICATION

 

04 NCAC 03L .0201          APPLICATION FOR LICENSE

(a)  Any person intending to engage in a check-cashing business pursuant to G.S. 53, Article 22 shall first be licensed by the Commissioner. An application shall be made on a form obtained from the Commissioner, and the completed application shall be filed pursuant to Rule .0102 of this Subchapter.

(b)  The application for license as a check-cashing business shall include a financial statement that is sufficient to show liquid assets of fifty thousand dollars ($50,000) as required by G.S. 53-279(a). 

(c)  The application for license as a check-cashing business shall further include:

(1)           the business address in North Carolina, mailing address, business telephone number, facsimile number, and  name of the supervisor or manager for the principal place of business and for each branch location;

(2)           the address where books and records for the business will be kept;

(3)           name, title, and business telephone number and facsimile number for the application contact person;

(4)           the applicant's federal employer identification number;

(5)           a declaration as to whether the applicant's business will be conducted as a sole proprietorship, a partnership, a limited liability company, or a corporation.

(d)  Each applicant shall provide a signed statement authorizing the Commissioner to run a credit report on the applicant and on each owner, partner, director, principal, controlling person thereof.

(e)  Each applicant shall provide a signed statement making full disclosure to the Commissioner concerning the following:

(1)           Any criminal proceedings pending against or criminal convictions entered against the applicant, its partners, directors, principal officers or controlling persons;

(2)           Any civil proceedings pending against or civil judgments entered against the applicant, its partners, directors, principal officers or controlling persons which involve fraud or dishonesty;

(3)           Any civil judgments entered against the applicant, its partners, directors, principal officers or controlling persons during the past 10 years which have remained partially or wholly unpaid;

(4)           Any of the following proceedings involving the applicant, its partners, directors, principal officers or controlling persons: bankruptcy, assignment for the benefit of creditors, receivership, consevatorship or similar proceeding;

(5)           Any proceedings brought by a state or federal administrative agency against the applicant, its partners, directors, principal officers or controlling persons;

(6)           Any judgments entered by state or federal administrative agency against the applicant, its partners, directors, principal officers, or controlling persons which involve fraud, dishonesty, or that reflect on the applicants' character and fitness to command the confidence of the public;

(7)           A description of the business experience, current business activities and education of the applicant, its partners, directors, principal officers and controlling persons.

(f)  The application shall be in writing and shall be verified by the oath of the applicant.

(g)  In addition to the documents and information described in this Rule, the Commissioner may require such additional information as he may deem necessary or helpful in order to perform the investigation required by required by G.S. 53-278 and to make the findings required by G.S. 53-279.

(h)  Incomplete application files may be closed and may be deemed denied without prejudice when the applicant has not submitted information requested by the Commissioner within 30 days of request.

 

History Note:        Authority G.S. 53-276; 53-278; 53-279; 53-288; 53C-2-1; 53C-2-2;

Eff. July 1, 2000.