31-1-221. Licensing of sales finance companies required. (1) No person shall engage in the business of a sales finance company in this state without a license therefor as provided in this part, except that no bank, trust company, or savings and loan association authorized to do business in this state shall be required to obtain a license under this part but shall comply with all of the other provisions of this part.
     (2) The application for such license shall be in writing, under oath, and in the form prescribed by the department. The application shall contain:
     (a) the name of the applicant;
     (b) date of incorporation, if incorporated;
     (c) the address where the business is or is to be conducted and similar information as to any branch office of the applicant;
     (d) the name and resident address of the owner or partners or, if a corporation or association, of the directors, trustees, and principal officers; and
     (e) such other pertinent information as the department may require.
     (3) The license fee for each calendar year or part thereof shall be the sum of $100 for each place of business of the licensee in this state.
     (4) Each license shall specify the location of the office or branch and must be conspicuously displayed there. In case such location be changed, the department shall endorse the change of location of the license without charge.
     (5) Upon the filing of such application and the payment of said fee, the department shall issue a license to the applicant to engage in the business of a sales finance company under and in accordance with the provisions of this part for a period which shall expire December 31 next following the date of its issuance. Such license shall not be transferable or assignable. No licensee shall transact any business provided for by this part under any other name.
     (6) Fees collected under this chapter shall be deposited in the state special revenue fund for the use of the department in its supervision function.

     History: En. Sec. 3, Ch. 282, L. 1959; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 74-603; amd. Sec. 8, Ch. 600, L. 1985.