Department of Commerce - Rules Relating to Short-Term Loan Act - Short-term loan license renewal application; issuance of renewal license; expiration.

Published: 2009-09-01

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(A) A license expires on the thirty-first day of December of each year regardless of when the license was issued.

(B) A licensee is responsible for ensuring that its renewal application is received by the division prior to the renewal filing deadline set forth in this rule. The failure of a licensee to receive any reminder notice that the division may send will not relieve the licensee of the renewal deadline.

(C) A renewal application must be received by the division prior to the expiration of the current license to prevent any lapse in licensing and in the ability to act as a short-term lender.

(D) A licensee cannot change its address by filing a renewal application and indicating its new intended address on the renewal application. Address changes shall be made in compliance with paragraph (B) of rule 1301:8-11-04 of the Administrative Code.

(E) Each question on the renewal application is material to the licensing process. Submitting false or incomplete information or omitting information in connection with a renewal application is grounds for denial of the application or revocation of the license and may subject the applicant and those individuals who signed the application to civil or criminal penalties.

(F) If the information contained in a renewal application for a short-term loan license becomes inaccurate for any reason while the renewal application is pending, the applicant shall be responsible for correcting the inaccurate information within ten business days of the change.

(G) An applicant may request the withdrawal of an application prior to a determination being made by the division by submitting a written request that the application be withdrawn. A request to withdraw a renewal application for a short-term loan license can only be submitted by those individuals legally authorized to do so on behalf of the applicant. An application may only be withdrawn with the permission of the superintendent.

(H) All application fees are non-refundable regardless of whether an application is withdrawn or denied.

(I) Upon approval of a renewal application, a license will be issued for the remainder of the annual licensure period, which ends the following thirty-first day of December.