Sec 6-604. Issuance of license; license year; requirements

A. If the superintendent finds no grounds for denial of a license, within one hundred twenty days after receiving a complete application, the superintendent shall grant the application and issue a license to the applicant.

B. The license year for a licensee begins on July 1 and ends on June 30 of each year.

C. All licenses issued remain in full force until surrendered, revoked or suspended.

D. A license remains the property of this state. On termination at the request of the licensee or revocation by the superintendent, the licensee shall immediately deliver the license to the superintendent. Termination of the license does not affect any other liability of the licensee.

E. The licensee shall designate the principal location of the licensed office within or outside this state. If a licensee wishes to maintain more than one office location the licensee shall first obtain a branch office license for each branch office from the superintendent. The licensee shall submit an application in the form prescribed by the superintendent and pay the fee prescribed in section 6-126 for each branch office license. If the superintendent determines that the applicant is qualified, the superintendent shall issue a branch office license indicating the address of the branch office.

F. A licensee shall prominently display the consumer lender license in the office of the consumer lender and any branch office license in that branch office.