Page:1959 North Dakota Session Laws.pdf/244

244 (d) The transcript of the hearing and evidence introduced at all hearings before the state examiner and the findings of fact prepared by the state examiner shall be public records open to inspection at all reasonable times.

§ 6. Posting of License; Continuing License: Annual Fee.) (a) Each license shall state the address at which the business is to be conducted and shall state fully the name of the licensee, and if the licensee is a co-partnership or association, the name of the members thereof, and if a corporation, the date and place of incorporation. Each license shall be kept posted in the licensed place of business and shall not be transferable or assignable.

(b) Each license shall remain in full force and effect until surrendered, revoked, or suspended, provided that on or before the tenth day of June of each year the licensee shall pay to the state examiner the sum of one hundred dollars for each license held by him, as a license fee for the succeeding fiscal year, and at the same time he shall file with the state examiner a bond in the same amount and in the same character as is required by subsection (b) 3 of section 5 of this Act.

§ 7. Place of Business; Removal; Residence of Borrower.) (a) Not more than one place of business for the making and collecting of loans made pursuant to this Act shall be maintained under the same license, but the state examiner may issue additional licenses to the same licensee upon compliance with all the provisions of this Act governing issuance of a single license. Nothing in this Act shall be construed to require a license for any place of business devoted entirely to accounting or other record keeping.

(b) No licensee may move his place of business to a location outside of the original city or town in which he is licensed without the issuance of a new license. When a licensee wishes to change his licensed place of business within the same city or town, he shall give written notice thereof to the state examiner who shall investigate the facts and approve or disapprove the new location for the business.

(c) Nothing in this Act shall be construed to limit the loans of any licensee to residents of the community in which the licensed place of business is situated, nor to prohibit making loans by mail.

§ 8. Revocation of License; Suspension of License; Surrender of License; Pre-existing Contracts: Reinstatement of License.) (a) The state examiner may, if he has reason to believe that grounds for revocation of a license exists, send by registered or certified mail to the licensee, a notice of hearing stating the contemplated action and in general the grounds thereof