Principal and branch offices; notice

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6-1207. Principal and branch offices; notice

A. A licensee shall designate and maintain a principal place of business for the transaction of business regulated by this chapter. If a licensee maintains one or more places of business in this state, the licensee shall designate a place of business in this state as its principal place of business for purposes of this section. The license shall specify the address of the principal place of business and shall designate a responsible individual for its principal place of business.

B. If a licensee maintains one or more locations in this state in addition to a principal place of business, and those locations are to be under the control of the licensee and not under the control of authorized delegates as prescribed in section 6-1208, the licensee shall obtain a branch office license from the deputy director for each additional location by filing an application as required by the deputy director at the time the licensee files its license application. If branch offices are added by the licensee, the licensee shall file with the deputy director an application for a branch office license with the licensee's next quarterly fiscal report prescribed by section 6-1211. The deputy director shall issue a branch office license if the deputy director determines that the licensee has complied with this subsection. The license shall indicate on its face the address of the branch office and shall designate a manager for each branch office to oversee that office. The deputy director may disapprove the designated manager then or at any later time if the deputy director finds that the competence, experience and integrity of the branch manager warrant disapproval. A person may be designated as the manager for more than one branch. The licensee shall submit a fee as prescribed in section 6-126 for each branch office license.

C. If the address of the principal place of business or any branch office is changed, the licensee shall immediately notify the deputy director of the change. The deputy director shall endorse the change of address on the license for a fee as prescribed in section 6-126.


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