§ 40-14-634 — License required; application; fee; conditions and execution; license nontransferable; display; renewal

Wyoming § 40-14-634

• Jurisdiction: Wyoming
• Title 40: Trade and Commerce
• Ch. 14: WYOMING UNIFORM CONSUMER CREDIT CODE
• Art. 6: ADMINISTRATION

Text

(a) The administrator shall receive and act on all
applications for licenses required under this act. Applications
shall be filed in the manner prescribed by the administrator and
shall contain the information the administrator requires by rule
to make an evaluation of the financial responsibility, character
and business qualifications of the applicant.
(b) The administrator shall issue a license unless, upon
investigation, he finds that the financial responsibility,
character and business qualifications of the applicant, and of
the members thereof, if the applicant is a partnership or
association, and of the officers and directors thereof if the
applicant is a corporation, are such as to warrant belief that
the business will not be operated honestly and fairly within the
purposes of this act.
(c) The application for one (1) or more licenses shall be
accompanied by a processing fee not to exceed five hundred
dollars ($500.00) for each license applied for, as set by rule
of the administrator. If the expenses of the investigation and
evaluation exceed the amount of the fee, the applicant shall
reimburse the administrator the excess amount. If the expenses
of the investigation and evaluation are less than the amount of
the fee or if the application is withdrawn prior to the
completion of the investigation and evaluation, the unexpended
amount shall remain in the consumer credit administration
account to be expended in accordance with W.S. 40-14-633.
(d) An applicant shall be notified when the application is
approved. Within twenty (20) days after notification, the
applicant shall pay an initial license fee not to exceed five
hundred dollars ($500.00), as set by rule of the administrator.
(e) Each office or place of business shall be licensed
separately.
(f) The license shall be prominently displayed at the
place of business named in the license. The license shall not
be transferable or assignable.
(g) If a licensee wishes to move his office to another
location, the licensee shall:
(i) Give at least thirty (30) days written notice to
the administrator; and
(ii) Pay a license modification fee not to exceed one
hundred dollars ($100.00), as set by rule of the administrator.
(h) Each license issued under this act shall expire on
December 31. The license shall be renewed annually not less
than thirty (30) days before the stated expiration date. The
renewal fee for each license shall not exceed five hundred
dollars ($500.00), as set by rule of the administrator.
(j) Upon written request, the applicant is entitled to a
hearing on the question of his qualifications for a license if:
(i) The administrator has notified the applicant in
writing that his application has been denied; or
(ii) The administrator has not issued a license
within sixty (60) days after the application for the license was
filed. A request for a hearing may not be made more than fifteen
(15) days after the administrator has mailed a writing to the
applicant notifying him that the application has been denied and
stating in substance the administrator's findings supporting
denial of the application.
(k) The administrator may establish different fees
authorized under this section for each category of licensee. The
administrator shall establish fees in accordance with the
following:
(i) Fees shall be established by rule or regulation
promulgated in accordance with the Wyoming Administrative
Procedure Act;
(ii) Fees shall be established in an amount to ensure
that, to the extent practicable, the total revenue generated
from the fees collected approximates, but does not exceed, the
direct and indirect costs of administering the regulatory
provisions required under this act;
(iii) The administrator shall maintain records
sufficient to support the fees charged.
(m) A license shall not be issued under subsection (b) of
this section if the applicant has been convicted of, pled guilty
or nolo contendere to, a felony in a domestic, foreign or
military court during the seven (7) year period preceding the
date of the application for licensing, or at any time preceding
such date of application if such felony involved an act of
fraud, dishonesty, breach of trust or money laundering.
(n) A license may be issued at the discretion of the
administrator under subsection (b) of this section if the
applicant has been convicted of, pled guilty or nolo contendere
to a misdemeanor in a domestic, foreign or military court
involving an act of fraud, dishonesty, breach of trust or money
laundering.
(o) In order to fulfill the purposes of this act, the
administrator may establish relationships or contract with the
registry or any other entity designated by the registry to
collect and maintain records and process transaction fees or
other fees related to licensees or other persons subject to this
act.
(p) In addition to the other requirements of this section,
in connection with an application for licensing, the applicant
shall, at a minimum, furnish to the administrator or the
registry information concerning the identity of the applicant,
the owners or persons in charge of the applicant and individuals
designated in charge of the applicant's places of business,
including:
(i) Fingerprints for submission to the federal bureau
of investigation, and any governmental agency or entity
authorized to receive such information for a state, national and
international criminal history background check; and
(ii) Personal history and experience, including the
submission of authorization for the registry or the
administrator to obtain:
(A) An independent credit report obtained from a
consumer reporting agency described in section 603(p) of the
federal Fair Credit Reporting Act; and
(B) Information related to any administrative,
civil or criminal findings by any governmental jurisdiction.
(q) For the purposes of this section and in order to
reduce the points of contact which the federal bureau of
investigation may have to maintain for purposes of paragraph
(p)(i) of this section and subparagraph (p)(ii)(B) of this
section, the administrator may use the registry as a channeling
agent for requesting information from and distributing
information to the department of justice or any governmental
agency.
(r) For the purposes of this section and in order to
reduce the points of contact which the administrator may have to
maintain for purposes of paragraph (p)(ii) of this section, the
administrator may use the registry as a channeling agent for
requesting and distributing information to and from any source
as directed by the administrator.
(s) Any fee charged and collected under this section shall
be in accordance with W.S. 13-1-603(d) through (f).