(c) Voluntary surrender of the permit will be effective upon the date of surrender specified regarding the written notice towards the commissioner as needed by this area; provided the licensee has met all of the needs of voluntary surrender and has now came back the license that is original.

-39 purchase or transfer of permit; modification of control. (a) No dollar that is small permit will probably be transmitted, except as supplied in this area.

(b) someone or selection of people asking for approval of a proposed modification of control of a licensee shall submit into the commissioner a software asking for approval of the proposed modification of control over the licensee, followed closely by an application that is nonrefundable of $500.

(c) After overview of an ask for approval under subsection (b), the commissioner may necessitate the licensee or individual or set of people asking for approval of the proposed modification of control over the licensee, or both, to deliver more information concerning the people whom shall take control associated with licensee. The information that is additional be limited by comparable information needed associated with licensee or individuals accountable for the licensee as an element of its initial permit or renewal application under parts -33 and -36. The knowledge shall add, when it comes to period that is five-year into the date associated with the application for change of control over the licensee, a brief history of product litigation and unlawful beliefs of every one who, upon approval regarding the application for modification of control, will likely to be a principal regarding the licensee. Authorization shall additionally be provided to conduct history that is criminal checks of the individuals, combined with the correct re re payment associated with 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 number of people asking for approval has the competence, experience, character, and basic physical physical fitness to regulate the licensee or individual accountable for the licensee in a legal and appropriate way, and that the interests associated with public will never be jeopardized because of the modification of control.

( ag ag e) the next people shall be exempt through the demands of subsection (b), nevertheless the licensee irrespective shall inform the commissioner whenever an alteration of control outcomes in the immediate following:

(1) somebody who will act as a proxy when it comes to single reason for voting at a designated conference associated with the safety holders or holders of voting passions of a licensee or individual accountable for a licensee;

(2) someone who acquires control over a licensee by devise or lineage;

(3) an one who acquires control being a representative that is personal custodian, guardian, conservator, trustee, or being an officer appointed by a court of competent jurisdiction or by procedure of legislation; or

(4) an individual who the commissioner, by guideline or purchase, 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 perhaps the individual will be considered an individual in charge of a licensee upon consummation of the proposed transaction. If the commissioner determines that the individual wouldn’t be an individual in charge of a licensee, the commissioner shall enter an order to that particular impact additionally the proposed person and deal shall never be at the mercy of subsections (b) through (d).

(g) Subsection (b) shall perhaps perhaps maybe not affect 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 continue maintaining a major office into the State, whether or not the tiny buck loan provider keeps its major workplace not in the State.

(b) in case a tiny buck loan provider has one or more bar or nightclub, each extra bar or nightclub in Hawaii will be certified as a branch workplace because of the commissioner. No company will be carried out at a branch workplace through to the branch workplace happens to be certified because of the commissioner.

(c) a dollar that is small shall maybe perhaps perhaps not keep any branch workplaces into the State along with its major bar or nightclub minus the previous penned approval of this commissioner. A credit card applicatoin to determine a branch workplace will be submitted through NMLS with an application that is nonrefundable as needed by section -35.

(d) a dollar that is small shall maybe maybe not relocate any workplace in this State minus the previous penned approval of this commissioner. A software to relocate a workplace will be submitted into the commissioner at the very least four weeks just before relocating and shall established the reason why when it comes to moving, the road target associated with proposed relocated workplace, as well as other information that could be needed because of the commissioner. A software to relocate a workplace pursuant to the subsection will be submitted by having a nonrefundable charge as needed by section -35.

( ag ag e) a dollar that is small shall provide the commissioner notice of their intent to shut a branch workplace at the least 30 days before 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 for the tiny buck loan provider will probably be identified in NMLS to consumers as a spot of which the licensee holds it self away as being a tiny buck loan provider.

(g) a permit given under this chapter will be prominently presented Abbotsford bad credit payday loans 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, along with 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 probably be payable through NMLS, towards the degree permitted by NMLS. Charges perhaps perhaps not qualified to receive payment through NMLS will probably be deposited into 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 because the commissioner deems essential for the management for this chapter.

(b) along with every other abilities supplied by legislation, the commissioner shall have the authority to:

(1) problem declaratory rulings or casual nonbinding interpretations;

(2) Investigate and conduct hearings regarding any breach with this chapter or any guideline or purchase of, or contract with, the commissioner;

(3) Create fact-finding committees that can make suggestions into the commissioner when it comes to commissioner’s deliberations;

(4) need a job candidate or any one of its control people, executive officers, directors, basic lovers, and handling people to reveal their appropriate history that is criminal demand a criminal record record sign in conformity with chapter 846;

(5) agreement with or employ qualified persons, including accountants, solicitors, detectives, examiners, auditors, or other experts who might be exempt from chapter 76 and whom 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 dental testimony, including telephonic communications, and do any and all sorts of things necessary or incidental into the workout associated with commissioner’s energy and duties, like the authority to conduct contested situation procedures under chapter 91;

(7) demand 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 into the exact exact same level as well as in exactly the same way being a bank chartered by their state or, into the alternative, any policy place associated with the Conference of State Bank Supervisors;

(8) come right into agreements or relationships along with other federal federal government officials or regulatory associations to be able to 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 practices, or pc computer software to analyze or examine a licensee or person susceptible to this chapter;

(10) Accept and depend on investigation or assessment reports created by other federal federal government officials, within or without this State; and

(11) Accept review reports produced by an unbiased certified accountant that is public the licensee or person susceptible to this chapter for the duration of that an element of the assessment within the exact exact same general subject material whilst the review and may also integrate the review report into the report associated with the assessment, report of research, or any other writing of this commissioner.