§58‑35‑15. Issuance or refusal of license; bond; duration oflicense; renewal; one office per license; display of license; notice of changeof location.
(a) Within 60 daysafter the filing of an application for a license accompanied by payment of thefees for license and examination, the Commissioner shall issue the license ormay refuse to issue the license and so advise the applicant. The applicantshall submit with such application any and all information which theCommissioner may require to assist him in determining the financial condition,business integrity, method of operation and protection to the public offered bythe person filing such application. The Commissioner may require a bond not toexceed twenty‑five thousand dollars ($25,000) on applications and anyrenewal thereof. Such license to engage in business in accordance with theprovisions of this Article at the location specified in the application shallbe executed in duplicate by the Commissioner and he shall transmit one copy tothe applicant and retain a copy on file. A person required by this subsectionto maintain a bond may, in lieu of that bond, deposit with the Commissioner theequivalent amount in cash, in certificates of deposit issued by banks organizedunder the laws of the State of North Carolina, or any national bank having itsprincipal office in North Carolina, or securities, which shall be held inaccordance with Article 5 of this Chapter. Securities may only be obligationsof the United States or of federal agencies listed in G.S. 147‑69.1(c)(2)guaranteed by the United States, obligations of the State of North Carolina, orobligations of a city or county of this State. Any proposed deposit of anobligation of a city or county of this State is subject to the prior approvalof the Commissioner.
(b) Whenever theCommissioner denies an initial application for a license, he shall notify theapplicant and advise, in writing, the applicant of the reasons for the denialof the license. Within 30 days of receipt of notification the applicant maymake written demand upon the Commissioner for a hearing to determine thereasonableness of the Commissioner's action. Such hearing shall be scheduledwithin 30 days from the date of receipt of the written demand.
(c) Each license issuedhereunder shall remain in full force and effect until the last day of Juneunless earlier surrendered, suspended, or revoked pursuant to this Article, andmay be renewed for the ensuing license year upon the filing of an applicationand conforming with G.S. 58‑35‑5, but subject to all of theprovisions of this Article. If an application for a renewal of a license isfiled with the Commissioner before July 1 of any year, the license sought to berenewed shall be continued in full force and effect either until the issuanceby the Commissioner of the renewal license applied for or until five days afterthe Commissioner refuses to issue such renewal license under the provisions ofthis Article.
(d) Only one office maybe maintained under each license, but more than one license may be issued tothe same licensee pursuant to this Article.
(e) Such license shallstate the name and address of the licensee and shall at all times beprominently displayed in the office of the licensee and shall not betransferable or assignable.
(f) Before anylicensee changes any office of his to another location, he shall give writtennotice thereof to the Commissioner. (1963, c. 1118; 1965, c.1039; 1989, c. 485, s. 47; 1991, c. 212, s. 3.)
§58‑35‑15. Issuance or refusal of license; bond; duration oflicense; renewal; one office per license; display of license; notice of changeof location.
(a) Within 60 daysafter the filing of an application for a license accompanied by payment of thefees for license and examination, the Commissioner shall issue the license ormay refuse to issue the license and so advise the applicant. The applicantshall submit with such application any and all information which theCommissioner may require to assist him in determining the financial condition,business integrity, method of operation and protection to the public offered bythe person filing such application. The Commissioner may require a bond not toexceed twenty‑five thousand dollars ($25,000) on applications and anyrenewal thereof. Such license to engage in business in accordance with theprovisions of this Article at the location specified in the application shallbe executed in duplicate by the Commissioner and he shall transmit one copy tothe applicant and retain a copy on file. A person required by this subsectionto maintain a bond may, in lieu of that bond, deposit with the Commissioner theequivalent amount in cash, in certificates of deposit issued by banks organizedunder the laws of the State of North Carolina, or any national bank having itsprincipal office in North Carolina, or securities, which shall be held inaccordance with Article 5 of this Chapter. Securities may only be obligationsof the United States or of federal agencies listed in G.S. 147‑69.1(c)(2)guaranteed by the United States, obligations of the State of North Carolina, orobligations of a city or county of this State. Any proposed deposit of anobligation of a city or county of this State is subject to the prior approvalof the Commissioner.
(b) Whenever theCommissioner denies an initial application for a license, he shall notify theapplicant and advise, in writing, the applicant of the reasons for the denialof the license. Within 30 days of receipt of notification the applicant maymake written demand upon the Commissioner for a hearing to determine thereasonableness of the Commissioner's action. Such hearing shall be scheduledwithin 30 days from the date of receipt of the written demand.
(c) Each license issuedhereunder shall remain in full force and effect until the last day of Juneunless earlier surrendered, suspended, or revoked pursuant to this Article, andmay be renewed for the ensuing license year upon the filing of an applicationand conforming with G.S. 58‑35‑5, but subject to all of theprovisions of this Article. If an application for a renewal of a license isfiled with the Commissioner before July 1 of any year, the license sought to berenewed shall be continued in full force and effect either until the issuanceby the Commissioner of the renewal license applied for or until five days afterthe Commissioner refuses to issue such renewal license under the provisions ofthis Article.
(d) Only one office maybe maintained under each license, but more than one license may be issued tothe same licensee pursuant to this Article.
(e) Such license shallstate the name and address of the licensee and shall at all times beprominently displayed in the office of the licensee and shall not betransferable or assignable.
(f) Before anylicensee changes any office of his to another location, he shall give writtennotice thereof to the Commissioner. (1963, c. 1118; 1965, c.1039; 1989, c. 485, s. 47; 1991, c. 212, s. 3.)
§58‑35‑15. Issuance or refusal of license; bond; duration oflicense; renewal; one office per license; display of license; notice of changeof location.
(a) Within 60 daysafter the filing of an application for a license accompanied by payment of thefees for license and examination, the Commissioner shall issue the license ormay refuse to issue the license and so advise the applicant. The applicantshall submit with such application any and all information which theCommissioner may require to assist him in determining the financial condition,business integrity, method of operation and protection to the public offered bythe person filing such application. The Commissioner may require a bond not toexceed twenty‑five thousand dollars ($25,000) on applications and anyrenewal thereof. Such license to engage in business in accordance with theprovisions of this Article at the location specified in the application shallbe executed in duplicate by the Commissioner and he shall transmit one copy tothe applicant and retain a copy on file. A person required by this subsectionto maintain a bond may, in lieu of that bond, deposit with the Commissioner theequivalent amount in cash, in certificates of deposit issued by banks organizedunder the laws of the State of North Carolina, or any national bank having itsprincipal office in North Carolina, or securities, which shall be held inaccordance with Article 5 of this Chapter. Securities may only be obligationsof the United States or of federal agencies listed in G.S. 147‑69.1(c)(2)guaranteed by the United States, obligations of the State of North Carolina, orobligations of a city or county of this State. Any proposed deposit of anobligation of a city or county of this State is subject to the prior approvalof the Commissioner.
(b) Whenever theCommissioner denies an initial application for a license, he shall notify theapplicant and advise, in writing, the applicant of the reasons for the denialof the license. Within 30 days of receipt of notification the applicant maymake written demand upon the Commissioner for a hearing to determine thereasonableness of the Commissioner's action. Such hearing shall be scheduledwithin 30 days from the date of receipt of the written demand.
(c) Each license issuedhereunder shall remain in full force and effect until the last day of Juneunless earlier surrendered, suspended, or revoked pursuant to this Article, andmay be renewed for the ensuing license year upon the filing of an applicationand conforming with G.S. 58‑35‑5, but subject to all of theprovisions of this Article. If an application for a renewal of a license isfiled with the Commissioner before July 1 of any year, the license sought to berenewed shall be continued in full force and effect either until the issuanceby the Commissioner of the renewal license applied for or until five days afterthe Commissioner refuses to issue such renewal license under the provisions ofthis Article.
(d) Only one office maybe maintained under each license, but more than one license may be issued tothe same licensee pursuant to this Article.
(e) Such license shallstate the name and address of the licensee and shall at all times beprominently displayed in the office of the licensee and shall not betransferable or assignable.
(f) Before anylicensee changes any office of his to another location, he shall give writtennotice thereof to the Commissioner. (1963, c. 1118; 1965, c.1039; 1989, c. 485, s. 47; 1991, c. 212, s. 3.)
