State Codes and Statutes
Statutes > Rhode-island > Title-19 > Chapter-19-14 > 19-14-3SECTION 19-14-3
§ 19-14-3 Application for license. –(a) The application for a license shall be in the form prescribed by thedirector and shall contain the name and address or addresses where the businessof the applicant is located and if the applicant is a partnership, association,corporation or other form of business organization, the names and addresses ofeach member, director and principal officer thereof or any individual acting inthe capacity of the manager of an office location. Such application shall alsoinclude a description of the activities of the applicant, in such detail andfor such periods as the director may require, as well as such furtherinformation as the director may require. The director may require a backgroundinvestigation of each applicant for a license by means of fingerprint checkspursuant to Rhode Island general laws §§ 19-14-7 and 42-14-14,utilizing the federal bureau of investigation, or other agency as determined bythe director for state and national criminal history record checks. If theapplicant is a partnership, association, corporation or other form of businessorganization, the director may require a background investigation by means offingerprint checks on each member, director or principal officer of suchapplicant or any individual acting in the capacity of the manager of an officelocation. The director will determine by rule those items of informationappearing on a criminal records check that will constitute disqualifyinginformation and therefore render the applicant ineligible for licensing underthis chapter in accordance with the provisions of § 19-14-7. Receipt ofcriminal history record information by a private entity is prohibited. Eachapplication for a license shall be accompanied by an investigation fee. Theapplicant at the time of making application shall pay to the director or thedirector's designee the sum of one half (1/2) of the annual license fee as afee for investigating the application. If the application for license isapproved, the applicant shall pay a fee equal to the annual license fee asprovided in this chapter. The license shall be continuous and the license feeshall cover the period through December 31 of each year. The annual license feefor any application approved after November 1 of any given year shall satisfythe annual license fee requirement through the end of the next succeedingcalendar year ending December 31. The director or the director's designee isauthorized to participate in a multi-state licensing system for licensees. Thedirector may establish requirements for participation by an applicant for alicense or a person licensed under this chapter. Any such requirements that maybe established by the director shall be published on the website of thedepartment of business regulation. Upon implementation, participation by anapplicant for a license or by a person licensed under the provisions of thischapter shall be mandatory. The applicant may be required to an additional feefor a license or other participation in such multi-state licensing system.
(b) [Reserved].
(c) [Reserved].
(d) Any license issued under the provisions of former §5-66-2 shall remain in full force and effect until its expiration and shall besubject to the provisions of this chapter.
(e) An applicant for issuance of a mortgage loan originatorlicense shall file with the director or the director's designee evidenceacceptable to the director or the director's designee that said applicant hascomplied with the provisions of §§ 19-14.10-5, 19-14.10-7 and19-14.10-8.
