(c) Voluntary surrender of a permit will probably be effective upon the date of surrender specified regarding the written notice into the commissioner as needed by this area; so long as the licensee has met all of the demands 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 be moved, except as supplied in this area.
(b) an individual or selection of people asking for approval of a proposed modification of control of a licensee shall submit towards the commissioner a credit card applicatoin asking for approval of a proposed modification of control of the licensee, combined with an application that is nonrefundable of $500.
(c) After report on a request approval under subsection (b), the commissioner may necessitate the licensee or individual or band of individuals asking for approval of a proposed modification of control over the licensee, or both, to produce more information concerning the people whom shall take control of this licensee. The information that is additional be restricted to comparable information needed associated with licensee or people accountable for the licensee included in its initial permit or renewal application under parts -33 and -36. The information and knowledge shall add, when it comes to five-year duration prior into the date associated with application for modification of control of the licensee, a brief history of product litigation and unlawful convictions of each and every individual who, upon approval of this application for modification of control, will likely be a principal for the licensee. Authorization shall additionally be provided to conduct history that is criminal checks of the individuals, followed by the right re payment for the relevant charge 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 physical fitness to manage the licensee or individual accountable for the licensee in a legal and appropriate way, and therefore the passions associated with the public won’t be jeopardized because of the change of control.
( ag e) the persons that are following be exempt through the demands of subsection (b), nevertheless the licensee irrespective shall alert the commissioner whenever an alteration of control results in the immediate following:
(1) someone who will act as a proxy for the single reason for voting at a designated conference associated with the protection holders or holders of voting passions of a licensee or individual accountable for a licensee;
(2) somebody who acquires control over a licensee by devise or lineage;
(3) an individual 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 procedure of legislation; or
(4) an individual who the commissioner, by guideline or purchase, exempts within the https://quickinstallmentloans.com/payday-loans-hi/ interest that is public.
(f) Before filing an ask for approval for an alteration of control, someone 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. In the event that commissioner determines that the individual wouldn’t be an individual in charge of a licensee, the commissioner shall enter an purchase to this impact while the proposed person and transaction shall never be susceptible to subsections (b) through (d).
(g) Subsection (b) shall maybe maybe not affect general public offerings of securities.
-40 Authorized places of business; major workplace ; branch workplaces; moving; closing. (a) Every dollar that is small certified under this chapter shall have and keep maintaining a major bar or nightclub into the State, whether or not the little buck loan provider keeps its major workplace outside the State.
(b) if your little buck loan provider has one or more bar or nightclub, each extra bar or nightclub in Hawaii will probably be certified as being a branch workplace utilizing the commissioner. No company will be carried out at a branch workplace before the branch workplace happens to be certified because of the commissioner.
(c) a little buck loan provider shall perhaps perhaps not keep any branch workplaces when you look at the State as well as its major bar or nightclub without having the previous penned approval of this commissioner. A software to determine a branch workplace will be submitted through NMLS having an application that is nonrefundable as needed by section -35.
(d) a dollar that is small shall maybe perhaps 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 to your commissioner at the least four weeks ahead of relocating and shall established the causes when it comes to moving, the road target for the proposed relocated workplace, as well as other information which may be needed by the commissioner. A credit card applicatoin to relocate a workplace pursuant to the 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 the intent to shut a branch workplace at the very least 30 days ahead of 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 be identified in NMLS to consumers as a place from which the licensee holds it self away as being a little buck loan provider.
(g) a permit released under this chapter will probably be prominently shown when you look at the major bar or nightclub and every branch workplace.
-41 re re Payment of costs. All fees gathered pursuant to part -35, administrative fines, along with other fees collected pursuant to the chapter will be deposited in to the conformity resolution fund established pursuant to area 269(o) and will probably be payable through NMLS, to your level permitted by NMLS. Charges perhaps perhaps maybe not qualified to receive re re payment through NMLS will probably be deposited as a split account within the conformity quality investment for usage by the unit.
-42 Powers of commissioner. (a) The commissioner may follow rules pursuant to chapter 91 given that commissioner deems essential for the management for this chapter.
(b) as well as some other capabilities given 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 for this chapter or any guideline or purchase of, or contract with, the commissioner;
(3) Create committees that are fact-finding could make tips towards the commissioner for the commissioner’s deliberations;
(4) need a job candidate or any one of its control persons, executive officers, directors, basic lovers, and handling people to reveal their appropriate criminal background and demand a criminal background record register 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 whom shall help the commissioner in exercising the commissioner’s capabilities and duties;
(6) Process and investigate complaints, subpoena witnesses and papers, administer oaths, and accept affidavits and testimony that is oral including telephonic communications, and do any and all sorts of things necessary or incidental to your workout of this commissioner’s power and duties, like the authority to conduct contested instance procedures under chapter 91;
(7) demand a licensee to conform to any guideline, guidance, guideline, declaration, supervisory policy or any comparable proclamation granted or used because of the Federal Deposit Insurance Corporation into the exact same degree as well as in exactly the same way as being a bank chartered by their state or, into the alternative, any policy place of this Conference of State Bank Supervisors;
(8) get into agreements or relationships along with other federal federal government officials or regulatory associations to be able to enhance efficiencies and lower burden that is regulatory sharing resources, standardized or uniform methods or procedures, and papers, documents, information, or proof acquired under this chapter ;
(9) usage, hire, agreement, or use public or independently available analytical systems, techniques, or computer pc computer software to research or examine a licensee or person susceptible to 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 accountant that is public the licensee or person at the mercy of this chapter for the duration of that area of the assessment within the exact same general subject material since the review and will include the review report within the report regarding the assessment, report of research, or any other writing associated with the commissioner.