California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 3 - Requirement to Maintain Current Information › Section 1850.32 - New Branch Office Registration or Change in Location of Existing Branch Office

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
				  licensee that seeks to engage in business at a new branch office or at a new
				  location for an existing branch office must register the new branch office by
				  filing a Form MU3 in accordance with the instructions of NMLS for transmission
				  to the Commissioner within thirty (30) calendar days of the date of engaging in
				  business at the new branch office or new location.
(b) If a licensee intends to conduct business
				  at a branch office under a fictitious business name not already approved by the
				  Commissioner, the licensee shall file with NMLS a copy of the Fictitious
				  Business Name Statement with the "filed" stamp from the county clerk's
				  office.
(c) A licensee shall not
				  use a fictitious business name until the Commissioner approves the use of the
				  name.
(d) A licensee shall comply
				  with the laws governing the filing of a fictitious business name set forth in
				  Business and Professions Code Sections
				  17900
				  through
				  17930.
(e) A licensee shall indicate the branch
				  manager as a branch manager on Form MU3, file with NMLS a Form MU2 for the
				  branch manager, and provide the necessary authorizations to enable NMLS to
				  obtain a credit report for the branch manager.
(f) A licensee shall provide on Form MU3 the
				  full web address for the new branch office and any separate website(s) for the
				  fictitious business names and indicate whether the applicant transacts business
				  through the website(s).
(g)
				  Fingerprinting fees specified in Sections 1850.7 and 1850.9 of these rules
				  shall be paid by the licensee, and any other fees payable through NMLS,
				  including fees, if any, to file the new or changed information, shall be paid
				  by the licensee to NMLS for transmission to the Commissioner. Any fees that
				  cannot be paid through NMLS shall be paid directly to the Commissioner. The
				  NMLS fees for obtaining credit reports and any other NMLS fees shall be paid by
				  the licensee to NMLS through NMLS. Fees are not refundable.
(h) The Commissioner may request other
				  information, documentation, or detail pertaining to the branch office that
				  cannot be filed through NMLS to be filed directly with the
				  Commissioner.
(i) The Commissioner
				  shall approve or deny the individual designated as the branch manager at the
				  new location and notify the licensee of this decision within ninety (90)
				  calendar days of the licensee's notification of the new location.
(j) If the Commissioner denies the individual
				  designated as the branch manager, the licensee shall, within ten (10) calendar
				  days of the date of receipt of notification of the Commissioner's denial,
				  designate a different individual as the branch manager at the new location. The
				  Commissioner shall approve or deny the different individual as provided in
				  subsection (i) of this section.
(k)
				  A change of the street address of an applicant's principal place of business
				  designated in a license application shall be made in accordance with Section
				  1850.30(d) of these rules and shall not constitute a new location subject to
				  the requirements of this section.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Sections 100006.3 and 100018, Financial Code.