Cal. Code Regs. Tit. 10, § 1424 - Branch Office License Instructions for Licensees and Applicants Filing Through NMLS
(a) A
finance lender, broker, or program administrator licensee on NMLS that seeks to
engage in business at an additional location must submit an application for a
branch office license by submitting Form MU3 (NMLS Branch Form) in accordance
with the instructions of NMLS for transmission to the Commissioner at least ten
days (10) before engaging in business at the location.
(b) An applicant on NMLS that intends to
conduct business at the branch office under a fictitious business name not
already approved by the Commissioner shall submit a copy of the Fictitious
Business Name Statement with the "filed stamp" from the county clerk's office
and may not use the name until the Commissioner approves the use of the
name.
(c) An applicant shall
indicate each branch manager as a branch manager on Form MU3 and submit to NMLS
a Form MU2 (NMLS Individual Form) for each branch manager.
(1) Each branch manager shall provide
authorization for, and delivery of, fingerprints and related information to
NMLS and the California Department of Justice, as applicable.
(2) Each location must have a branch manager
and the same individual may not be a branch manager of multiple
locations.
(d) The
Commissioner may request that additional information, documentation or detail
pertaining to the branch office application be filed directly with the
Commissioner.
(e) Application,
investigation, and criminal history background check fees shall be paid by the
applicant or licensee to NMLS for transmission to the Commissioner. Any
applicable fees that cannot be paid through NMLS shall be paid directly to the
Commissioner. Fees are not refundable.
(f) A finance lender, broker, or program
administrator applicant or licensee filing through NMLS shall comply with this
section for an additional license location and not section
1423
of these rules.
Notes
Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22101, 22101.5, 22102, 22103 and 22105, Financial Code.
2. New section refiled 9-28-2010 as an emergency; operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 12-23-2010 order, including amendment of Note, transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).
5. Amendment of section heading and section filed 8-5-2021; operative
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