Subtitle 286.4 - Consumer Loan Companies

Subtitle 286.4 - Consumer Loan Companies

286.4-410 Definitions -- Application of subtitle.
286.4-420 License required for finance companies -- Evidence of existing licenses.
286.4-425 Commissioner's coordination with State Regulatory Registry and other agencies.
286.4-430 Form of application -- Contents.
286.4-440 Application and license fees.
286.4-450 Bonding requirements for applications submitted on or after January 1, 2020 -- Demonstration of financial condition -- Managing principal -- Background check -- Incomplete application -- Approval or rejection of application -- Time limit -- Appeal -- Hearing -- Eligibility if license denied.
286.4-460 License -- Contents -- Transfer -- Place of business -- Change -- Name on license.
286.4-465 Approval of change of control -- Application -- Fees -- Determination of whether proposed transaction constitutes change of control.
286.4-470 Limitation on locations at which business may be conducted -- Construction of subtitle regarding types of loans.
286.4-480 Duration of license -- Payment of annual fee -- Expiration -- Reinstatement.
286.4-490 Reasons for adverse action or cease-and-desist order -- Locations at which adverse action applies -- Eligibility if license revoked -- Effect of adverse action -- Complaint -- Relief -- Civil penalty.
286.4-495 Emergency orders -- Grounds -- Hearing -- Duration of emergency order.
286.4-500 Notice of license denial -- Administrative complaint -- Hearings and final orders -- Findings -- Service by certified mail.
286.4-505 Administrative hearing for person or licensee aggrieved by final decision of commissioner.
286.4-520 Prohibited advertisements and statements.
286.4-530 Basic, default, and deferment charges -- Prohibition against division of loan and excessive charges.
286.4-533 Authorized charges for extension of credit.
286.4-535 Closing costs collectible when liens on real estate taken as security.
286.4-540 Duties of licensee.
286.4-545 Agent for service of process.
286.4-547 Compliance with federal and state laws -- Regulatory penalties.
286.4-550 Time of installment payments.
286.4-560 Insurance.
286.4-570 Wage purchases -- Assignment of compensation.
286.4-580 Prohibited conduct -- No contract or loan without scheduled repayment -- Lien on real estate as security.
286.4-590 Licensee to make annual report.
286.4-600 Licensee's records -- Retention -- Notice of cessation -- Custodian of records -- Request for destruction -- Withholding or altering records.
286.4-605 Confidential and privileged documents -- Commissioner's powers -- Privilege or claim of confidentiality not waived.
286.4-610 Commissioner's power to issue administrative regulations and examine licensees -- Investigations -- Enforcement of subpoena -- Powers of commissioner.
286.4-613 Effect of conformity with notice, opinion, or interpretation of commissioner.
286.4-615 Commonwealth or its employees not liable for failure to disclose financial condition of consumer loan company.
286.4-620 Public policy relating to loans of $15,000 or less -- Loans outside state.
286.4-630 Repealed, 2019.
286.4-640 Effect of future amendment of this subtitle.
286.4-990 Civil penalties -- Actions by commissioner against violators -- Recovery of penalties and fees.
286.4-991 Penalties.

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