Sec. 36a-537. (Formerly Sec. 36-256a). Application. Criminal history records check, fingerprints, investigation of financial condition. Abandonment of application.
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/ct/title-36a/chapter-668-nondepository-financial-institutions/36a-537·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)An application for a license as a sales finance company or for renewal of such license shall be made and processed on the system pursuant to section 36a-24b , in the form prescribed by the commissioner. Each such form shall contain content as set forth by instruction or procedure of the commissioner and may be changed or updated as necessary by the commissioner in order to carry out the purposes of sections 36a-535 to 36a-547 , inclusive. The applicant shall, at a minimum, furnish to the system information concerning the identity of the applicant, any control person of the applicant, the qualified individual and any branch manager responsible for the actions of the licensee, including, but not limited to, information related to such person's personal history and experience, and any administrative, civil or criminal findings by any governmental jurisdiction.
(b)As part of an application, the commissioner may
(1)in accordance with section 29-17a , conduct a state or national criminal history records check of the applicant, any control person of the applicant, the qualified individual or any branch manager; and
(2)in accordance with section 36a-24b ,
(A)require the submission of fingerprints of the applicant, any control person of the applicant, the qualified individual or any branch manager to the Federal Bureau of Investigation or other state, national or international criminal databases, and
(B)investigate the financial condition of any such person and require authorization of any such person for the system and the commissioner to obtain an independent credit report from a consumer reporting agency, as described in Section 603(p) of the Fair Credit Reporting Act, 15 USC 1681a, as amended from time to time. The commissioner may deem an application for a license as a sales finance company abandoned if the applicant fails to respond to any request for information required under sections 36a-535 to 36a-547 , inclusive, or any regulations adopted pursuant to said sections 36a-535 to 36a-547 , inclusive. The commissioner shall notify the applicant on the system that if such information is not submitted not later than sixty days after such request, the application shall be deemed abandoned. An application filing fee paid prior to the date an application is deemed abandoned pursuant to this section shall not be refunded. Abandonment of an application pursuant to this section shall not preclude the applicant from submitting a new application for a license under sections 36a-535 to 36a-547 , inclusive.