7-1-683. Requirements and procedure for licensure.

Each applicant for a license under this article shall:#

1. (1)

   Submit an application in writing, which is made under oath and in such form as the department may prescribe;#

2. (2)

   Furnish to the Nationwide Multistate Licensing System and Registry the following information:#

   1. (A)

      The legal name and principal office address of the person applying for the license;#

   2. (B)

      The name, residence, and business address of each director, ultimate equitable owner, and executive officer;#

   3. (C)

      If the applicant has one or more branches or other locations, including, but not limited to, locations operated by an authorized agent, at or through which the applicant proposes to engage in money transmission within this state, the complete address of each such location; and#

   4. (D)

      The location where its initial registered office will be located in this state, if any; and#

3. (3)

   Submit such other data, financial statements, and pertinent information as the department may require with respect to the applicant, its directors, trustees, officers, members, ultimate equitable owners, subsidiaries, affiliates, or agents.#

The application for license shall be filed together with:#

1. (1)

   An investigation and supervision fee established by the department through rule or regulation which shall not be refundable but which, if the license is granted, shall satisfy the fee requirement for the first licensed year or the remaining part thereof;#

2. (2)

   Items required by other provisions of this article, including, but not limited to, Code Sections 7-1-683.2 and 7-1-684; and#

3. (3)

   Other information as may be required by the department.#

The department shall pay all fees received from licensees and applicants related to applications, licenses, and renewals to the Office of the State Treasurer; provided, however, that the department may net such fees to recover the cost of participation in the Nationwide Multistate Licensing System and Registry.#

The department shall enact rules and regulations regarding the time frame by which all persons must submit an original or renewal application for licensure through the Nationwide Multistate Licensing System and Registry.#

The department may issue a notice of intent to administratively withdraw an application for a license under this article if an applicant submits a deficient license application by failing to provide any information required by the department. If the applicant fails to provide the requested information within 30 days of the date of issuance of such notice, the application may be administratively withdrawn. The notice shall be deemed provided to the applicant when:#

1. (1)

   Sent via email to the applicant’s email address, as provided on the application; or#

2. (2)

   Posted by the department on the Nationwide Multistate Licensing System and Registry.#