04 NCAC 03E .0101          APPLICATION

(a)  No person shall make loans under the provisions of the North Carolina Consumer Finance Act without first obtaining a license from the Commissioner of Banks.  The application for a consumer finance license shall contain a request for a license to operate a business under the North Carolina Consumer Finance Act, incorporate all statutory requirements and criteria, and include payment of the statutory fee.  The form shall be obtained from and filed with:

Office of the Commissioner of Banks

316 West Edenton Street

4309 Mail Service Center

Raleigh, North Carolina  27699-4309.


(b)  Upon receipt of an application for a consumer finance license, the Commissioner of Banks shall give written notice of the application to all licensees operating within the community proposed to be served as described in the application.  Where a licensee holds two or more licenses the notification is to be mailed to the home office of such licensee.  The notification may be by copy of acknowledgment to the applicant.

(c)  Following an investigation of the application pursuant to G.S. 53-168, the Commissioner of Banks shall decide as to:

(1)           approval of the application,

(2)           denial of the application.


History Note:        Authority G.S. 53‑92; 53‑95; 53‑104; 53‑168; 53‑185; 150B‑21.2;

Eff. February 1, 1976;

Amended Eff. September 1, 2006; January 1, 1993; August 1, 1978.