Iowa Admin. Code r. 187-17.3 - Application for license
(1)
An application for a license to operate a delayed deposit services business in
Iowa shall be submitted to the superintendent on the form provided and with the
information requested through the NMLS . The superintendent may consider an
application withdrawn if it does not contain all of the information required
and the missing information is not submitted to the superintendent within 30
days after the superintendent requests the missing information. The applicant
may also request that the application be withdrawn at any time before the
superintendent has decided to grant or deny the application.
(2) Each officer, director and individual who
has control of an applicant must provide fingerprints, authorize a fingerprint
background check through NMLS , and pay the appropriate fees for the purpose of
conducting a national criminal history background check through the Federal
Bureau of Investigation.
(3) The
applicant shall submit with the application an application fee of $100 and an
initial license fee of $250. The superintendent shall refund the initial
license fee if the application is denied, but the application fee is not
subject to refund.
(4) If any
information material to the application changes after the applicant files the
initial application, the applicant shall provide updated information to the
superintendent within 10 days of the change. When such a material change in
information has occurred, the superintendent may deny an application if the
applicant fails to provide updated information within the prescribed time
frame.
(5) An applicant for a
license to enter into delayed deposit transactions must file with the
superintendent a $25,000 surety bond in compliance with the provisions of Iowa
Code section
533D.3(3)"b."
(6) Licenses expire on the
next December 31 after they are issued, but licenses granted on or after
November 1 but before January 1 will not expire until December 31 of the
following year. For example, a license granted on November 17, 2017, would not
expire until December 31, 2018.
Notes
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