Title 45, Banks And Financial Institutions

(a) Each applicant for a license shall demonstrate, and each licensee shall maintain, a minimum net worth of at least twenty-five thousand dollars ($25,000) for each location. (b) Every corporate applicant, at the time of filing an application for a license under this part and at…

Each application for a license under this chapter shall be made in writing under oath, and in a form prescribed by the commissioner.

(1) Each application for a license shall be accompanied by:(1) A nonrefundable supervision fee, as provided in § 45-1-118(i). The supervision fee shall be applicable to each location; and(2) Financial statements for the immediately preceding fiscal year end prepared in accordance…

(a) Upon the filing of a properly completed application, accompanied by the nonrefundable supervision fee, as provided in § 45-1-118(i), and other required documents, the department shall investigate to ascertain whether the qualifications and requirements prescribed by this chap…

(a) (1) Licenses issued pursuant to this chapter expire on December 31. A license may be renewed for the ensuing twelve-month period upon application by the license holder showing continued compliance with the qualifications for a license, filing of the completed renewal form, an…

(a) No licensee shall change its address unless it has given fourteen (14) days prior notice to the commissioner. (b) No licensee shall change its name unless it has given fourteen (14) days prior notice to the commissioner. (c) A change in control of a licensee shall require pri…

(1) A licensee may operate the businesses regulated under this chapter at a location where any other business is operated or in association or conjunction with any other business as long as the licensee gives prior written notification to the commissioner and the other business i…

(1) Within fifteen (15) days of the occurrence of any one (1) of the events listed in subdivisions (1)-(6), a licensee shall file a written report with the commissioner describing the event and its expected impact on the activities of the licensee in the state:(1) The filing for …

(a) The commissioner may conduct periodic examinations of a licensee to determine compliance with this chapter. In conducting the examination, the commissioner or the commissioner's staff shall have full and free access to all the books, papers and records of the licensee and may…

(a) Each licensee shall make, keep and preserve the books, accounts, records, and documents as the commissioner may determine by rule. (b) All records of the check cashing business shall be maintained separately by the licensee from any other business in which the licensee may en…

(a) After notice and an opportunity for a hearing, the commissioner may suspend or revoke a license if the commissioner finds that:(1) Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying t…

The Uniform Administrative Procedures Act, compiled in title 4, chapter 5, applies to any hearing afforded pursuant to this chapter.

(1) If, after notice and an opportunity for a hearing, the commissioner finds that a person has violated this chapter or a rule adopted under this chapter, the commissioner may, in addition to all other powers conferred in this chapter:(1) Order the person to cease and desist vio…

(a) The commissioner may enter into consent orders at any time with any person to resolve any matter arising under this chapter. A consent order shall be signed by the person to whom it is issued or a duly authorized representative, and must indicate agreement to the terms contai…

(a) Any person who knowingly and willfully violates any provision of this chapter or any order or rule pursuant thereto for which a penalty is not specifically provided commits a Class C misdemeanor. Each day the violation occurs is a separate offense. (b) Any person who knowingl…

(a) Any person aggrieved by the conduct of a licensee under this chapter in connection with the regulated activities, may file a written complaint with the commissioner who may investigate the complaint. (b) In the course of the investigation of the complaint, the commissioner ma…

(a) Before a licensee deposits with any financial institution a payment instrument that is cashed by a licensee, the item must be endorsed with the actual name under which the licensee is doing business. Additionally, the words “Licensed Check Cashing Business” must be written le…

(a) In addition to any other powers imposed upon the commissioner by law, the commissioner is authorized to require persons subject to this chapter to be licensed through a multi-state automated licensing system. Pursuant to this authority, the commissioner may:(1) Promulgate any…

The commissioner is authorized to use a multi-state automated licensing system as an agent for channeling information, whether criminal or noncriminal in nature, and whether derived from or distributed to the United States department of justice, any other state or federal governm…

(1) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:(1) The requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to a multi-state automated l…