2019 Connecticut General Statutes
Title 36a - The Banking Law of Connecticut
Chapter 668 - Nondepository Financial Institutions
Section 36a-636e - License fees and expenses. Expiration and renewal. Automatic suspension. Surrender or termination of license.

(a) Each applicant for a license, at the time of making such application, shall pay to the commissioner a nonrefundable license fee of two thousand five hundred dollars. Each license issued pursuant to section 36a-636a shall expire at the close of business on June thirtieth of each year, unless such license is renewed. The license shall not be transferable or assignable. Each licensee shall, on or before June twentieth of each year, pay to the commissioner the sum of one thousand dollars as a license renewal fee for the succeeding year, commencing July first. Each applicant or licensee shall pay all the expenses associated with any examination or investigation made under sections 36a-636a to 36a-636e, inclusive, or any regulation adopted pursuant to section 36a-636f.

(b) If the commissioner determines that a check filed with the commissioner to pay a license fee has been dishonored, the commissioner shall automatically suspend the license or a renewal license that has been issued but is not yet effective. The commissioner shall give the licensee notice of the automatic suspension pending proceedings for revocation or refusal to renew and an opportunity for a hearing on such actions in accordance with section 36a-51.

(c) Upon surrender or termination of the license, the licensee shall promptly notify all customers and provide confirmation of the notification to the commissioner not later than fifteen days after the date of such surrender or termination.

(P.A. 16-65, S. 70; P.A. 17-236, S. 7.)

History: P.A. 16-65 effective May 26, 2016; P.A. 17-236 amended Subsec. (c) by replacing “suspension” with “surrender”, effective July 11, 2017.