Ala. Admin. Code r. 155-2-3-.07 - Other Business Activities - Small Loan Act
(1) A licensee shall not establish or conduct
any other business in the same physical premises as the licensed place of
business without having obtained prior written approval of the
Supervisor.
(2) Such other business
must be conducted in a manner that will involve no evasion or violation of the
Act. Records of other business activities shall be maintained separate and
apart from licensed activity records and shall be subject to review by the
Department.
(3) Any prior written
permission or non-objection letters to conduct other business, other than the
sale of other insurance products pursuant to Section
5-19-20(i) and
Regulation
155-2-2-.12, shall remain in
effect unless revoked, suspended or withdrawn.
(4) Each licensee shall maintain a copy of
any written permission or non-objection letter issued by the Supervisor at each
licensed location.
Notes
Author: Scott Corscadden, General Counsel
Statutory Authority: Code of Alabama 1975, § 5-18-8, § 5-18-12, § 5-18-14
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