§ 556. Action by superintendent on application.
1.Within ninety days\nafter the filing of an application for a license accompanied by payment\nof the fees for license and investigation, the superintendent shall\nissue the license, or the superintendent may refuse to issue the license\nif he shall find that the financial responsibility, experience,\ncharacter and general fitness of the applicant or any person associated\nwith the applicant are not such as to command the confidence of the\ncommunity and to warrant the belief that the business will be conducted\nhonestly, fairly and efficiently within the purposes and intent of this\narticle. For the purpose of this subdivision, the applicant shall be\ndeemed to include all the members of the applicant if it is a\npartnership or unincorpor
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§ 556. Action by superintendent on application. 1. Within ninety days\nafter the filing of an application for a license accompanied by payment\nof the fees for license and investigation, the superintendent shall\nissue the license, or the superintendent may refuse to issue the license\nif he shall find that the financial responsibility, experience,\ncharacter and general fitness of the applicant or any person associated\nwith the applicant are not such as to command the confidence of the\ncommunity and to warrant the belief that the business will be conducted\nhonestly, fairly and efficiently within the purposes and intent of this\narticle. For the purpose of this subdivision, the applicant shall be\ndeemed to include all the members of the applicant if it is a\npartnership or unincorporated association, and all the stockholders,\nofficers and directors of the applicant if it is a corporation. Such\nlicense to engage in business in accordance with the provisions of this\narticle at the location specified in the application shall be executed\nin triplicate by the superintendent and he shall transmit one copy\nthereof to the applicant, file a copy in the office of the department of\nfinancial services, and file a copy in the office of the clerk of the\ncounty in which is located the place designated in such license.\n 2. If the superintendent refuses to issue a license, he shall notify\nthe applicant of the denial, return to the applicant the sum paid as a\nlicense fee, but retain the investigation fee to cover the costs of\ninvestigating the applicant.\n 3. Each license issued hereunder shall remain in full force and effect\nuntil it is surrendered by the licensee or revoked or suspended as\nprovided in this article.\n 4. Only one office may be maintained under each license, but more than\none license may be issued to the same licensee pursuant to this article.\n 5. Any person engaged in the business of a premium finance agency on\nthe date this act takes effect may continue in operation in accordance\nwith the provisions of this article but must obtain a license for each\noffice at which he engages in the business of a premium finance agency\nby January first, nineteen hundred sixty-one.\n