|
|
|
|
|
|
|
|
|
|
|
|
|
S.B. 872 VETOES
|
|
|
|
|
|
|
3. Is charged with another offense arising out of the same
circumstances that is within a circuit court's jurisdiction.
Article - Financial Institutions
11-512.
(a) (1) A licensee may not change the place of business for which a license is
issued unless the licensee:
(4) (I) Notifies the Commissioner in writing of the proposed change;
and
(2) (II) Receives the written [consent] APPROVAL of the Commissioner.
(2) WITHIN 60 DAYS AFTER RECEIVING A REQUEST FOR APPROVAL OF A
PROPOSED CHANGE IN THE PLACE OF BUSINESS FOR A LICENSEE. THE
COMMISSIONER SHALL APPROVE OR DENY THE REQUEST.
(3) IF THE COMMISSIONER DOES NOT APPROVE OR DENY A REQUEST
FOR APPROVAL OF A PROPOSED CHANGE IN THE PLACE OF BUSINESS FOR A
LICENSEE AS PROVIDED UNDER PARAGRAPH (2) OF THIS SUBSECTION. THE REQUEST
SHALL BE DEEMED APPROVED.
(B) (1) A LICENSEE MAY NOT UNDERGO A CHANGE IN CONTROL UNLESS
THE LICENSEE:
(I) NOTIFIES THE COMMISSIONER IN WRITING OF THE PROPOSED
CHANGE;
(II) MAKES A WRITTEN REQUEST THAT THE COMMISSIONER
APPROVE THE PROPOSED CHANGE;
(III) PROVIDES ANY INFORMATION THE COMMISSIONER MAY
REQUIRE UNDER PARAGRAPH (3) OF THIS SUBSECTION; AND
(W) RECEIVES THE WRITTEN APPROVAL OF THE COMMISSIONER.
(2) FOR PURPOSES OF THIS SUBSECTION:
(I) IF THE LICENSEE IS A CORPORATION, "CONTROL" MEANS
DIRECT OR INDIRECT OWNERSHIP OF, OR THE RIGHT TO CONTROL, 25% OR MORE OF
THE VOTING SHARES OF THE LICENSEE, OR THE ABILITY TO ELECT A MAJORITY OF
THE DIRECTORS OR OTHERWISE EFFECT A CHANGE IN POLICY; AND
(II) IF THE LICENSEE IS AN ENTITY OTHER THAN A CORPORATION,
"CONTROL" MEANS THE POSSESSION, DIRECTLY OR INDIRECTLY, OF THE POWER TO
DIRECT OR CAUSE THE DIRECTION OF THE MANAGEMENT AND POLICIES OF THE
LICENSEE, WHETHER THROUGH THE OWNERSHIP OF VOTING SECURITIES, BY
CONTRACT, OR OTHERWISE.
(3) WITHIN 60 DAYS AFTER RECEIVING A REQUEST FOR APPROVAL OF A
PROPOSED CHANGE IN CONTROL, THE COMMISSIONER MAY REQUIRE THE LICENSEE
|
|
|
|
|
|
|
|
- 4200 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
![clear space](../../../images/clear.gif) |