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Supervised Lender

STATUTE:

DESCRIPTION:

This license allows a lender, as a business, to make or take assignment of supervised loans from other Consumer Credit organizations.

TIME FRAME TO ISSUE:

The approval process for this license requires up to 90 days to complete.

FEES:

The fees for this license include a $425.00 one-time investigation fee, a $290.00 license fee and a $500.00 examination fee of books and records for a total of $1215.00

LICENSING PERIOD:

This license is valid for one year, beginning on January 1st.

PREREQUISITES:

The business must have a $5,000 surety bond, and a financial statement showing net assets of at least $25,000.

Additional Resources

2024

Last Modified on Aug 02, 2024
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