2005 Vermont Code - § 2208. — Additional places of business; change of place of business; change of management or control

§ 2208. Additional places of business; change of place of business; change of management or control

(a) Not more than one place of business shall be maintained under the same license, but the commissioner may issue more than one license to the same licensee upon compliance with all the provisions of this chapter governing an original issuance of a license.

(b) Any change of location or closing of a place of business of the licensee shall require 30 days' prior written notice thereof to the commissioner. Any licensed lender wishing to engage in mortgage brokerage or sales finance, when such was not disclosed to the commissioner in the original application for a license to lend or in any renewal application, shall provide the commissioner 30 days' prior written notice thereof. Notice of such change of location or such change in activities shall be accompanied by a fee of $100.00. Upon receipt of notice and fee, the commissioner shall attach to the license in writing the commissioner's record of the change and the date thereof, which shall be authority for the operation of such business under such license at such new location or, as the case may be, authority for the licensed lender to engage in mortgage brokerage or sales finance. No change in the place of business of a licensee to a location outside of the original state shall be permitted under the same license.

(c) The licensee shall notify the commissioner of any change in control of the licensee, and of every change in senior management personnel, and of every change in membership of the board of directors of the licensee within 30 days of such change. (Amended 1987, No. 117, § 5; 1995, No. 162 (Adj. Sess.), § 9, eff. Jan. 1, 1997.)