(a) A finance lender or broker licensee seeking to engage in business at a new location other than the licensee principal place of business shall submit an application for a branch office license to the Board at least 60 days before seeking to engage in business at a new location and pay the fee required by section 781.
(b) (1) The Board shall approve or deny the person responsible for the lending activity at the new location in accordance with section 789 and shall notify the licensee of this decision no later than 45 days after the date of receipt of the application.(2) If the Board denies the application, the licensee may submit to the Board not later than 15 days after the date of receipt of notification of the Board’s denial a new application designating a different person responsible for the lending activity at the new location. The Board shall approve or deny the different person as provided in paragraph (1).
(1) The Board shall approve or deny the person responsible for the lending activity at the new location in accordance with section 789 and shall notify the licensee of this decision no later than 45 days after the date of receipt of the application.
(2) If the Board denies the application, the licensee may submit to the Board not later than 15 days after the date of receipt of notification of the Board’s denial a new application designating a different person responsible for the lending activity at the new location. The Board shall approve or deny the different person as provided in paragraph (1).
(c) A licensee may not engage in business at a new location in a name other than a name approved by the Board.
(d) The Board may adopt regulations to implement the requirements of this section.
(e) A branch office license to engage in business at a new location must be issued in accordance with this section. A change of street address of a place of business designated in a license must be made in accordance with section 793 and does not constitute a new location subject to the requirements of this section.