2013 Rhode Island General Laws
Title 19 - Financial institutions
Chapter 19-14 - Licensed Activities
Section 19-14-12 - Place of business – Branch offices – Name changes.

§ 19-14-12 Place of business – Branch offices – Name changes. – (a) Additional places of business may be maintained under the same license upon written application to the director or the director's designee for the establishment of an additional branch office. A separate application must be filed for each additional branch office being requested. At the time of the application, the licensee shall pay to and for the use of the state an investigation fee as provided for in § 19-14-3. Upon the filing of the application, the director or the director's designee shall investigate the facts, and if he or she shall find that allowing the licensee to engage in business in the additional branch location will promote the convenience and advantage of the community in which the licensee desires to conduct his or her business, the director or the director's designee shall issue and deliver a branch certificate, signed by the director or the director's designee which shall be authority for the operation of the business under the license at the branch location. If the director or the director's designee shall not so find, he or she shall deny the licensee permission to establish the branch location in a manner consistent with the licensing application process. Upon approval of a branch location request, the licensee shall pay an additional annual licensing fee for each branch location in the manner consistent with the licensing application process. Any person licensed under chapters 25, 25.1, 25.2, 25.3 or 25.4 of this title as in effect on June 30, 1995, that has maintained more than one office licensed under any of those chapters as of June 30, 1995 will automatically be issued branch certificates for the comparable licenses under this chapter for all of the locations other than the main office as part of the 1996 license renewal process. The original licenses for locations deemed to be branches must be surrendered at that time.

(b) Whenever a licensee wishes to change his or her place of business or branch location to a street address other than that designated in the license, the licensee shall make written application to the director or the director's designee who shall investigate the facts. If the director or the director's designee finds that allowing the licensee to engage in business in the new location will promote the convenience and advantage of the community in which the licensee desires to conduct business, the director or the director's designee shall reissue the license or branch certificate reflecting the change and the date, which shall be authority for the operation of the business under the license at the new location. If the director or the director's designee shall not so find, he or she shall deny the licensee permission to change the location of the place of business, in the manner consistent with the application process for a license. At the time of application, the licensee shall pay to the state the sum of two hundred fifty dollars ($250) as an investigation and processing fee.

(c) No licensee shall transact the business provided for by this chapter under any other name than that named in the license or branch certificate. Whenever a licensee shall wish to change the name, the licensee shall make written application to the director or the director's designee, who shall investigate the facts. If the director or the director's designee shall find that the change of name is appropriate and all requirements for the name change have been met by the licensee, the director or the director's designee shall approve the change and issue a replacement license and branch certificate(s), if applicable, reflecting the new name, upon surrender by the licensee of the original license and branch certificate(s), if applicable. At the time of application for change of name, the licensee shall pay to and for the use of the state the sum of one hundred fifty dollars ($150) and an additional fifty dollars ($50.00) for each branch location as an investigation and processing fee.

History of Section.
(P.L. 1995, ch. 82, § 52.)