Sec. 36a-541. (Formerly Sec. 36-259a). Authority of commissioner to issue license or deny application for license.
Sec. 36a-541. (Formerly Sec. 36-259a). Authority of commissioner to issue license or deny application for license. If the commissioner finds, upon the filing of an
application for a license as a sales finance company, that the financial responsibility,
character, reputation, integrity and general fitness of the applicant and of the partners
thereof if the applicant is a partnership, of the members if the applicant is a limited
liability company or association, and of the officers, directors and principal employees
if the applicant is a corporation, are such as to warrant belief that the business will be
operated soundly and efficiently, in the public interest and consistent with the purposes
of sections 36a-535 to 36a-546, inclusive, the commissioner may thereupon issue the
applicant the license. If the commissioner fails to make such findings, or if the commissioner finds that the applicant has made any material misstatement in the application,
the commissioner shall not issue a license, and shall notify the applicant of the denial
and the reasons for such denial. Any denial of an application by the commissioner shall,
when applicable, be subject to the provisions of section 46a-80.
(1967, P.A. 631, S. 3; P.A. 94-122, S. 254, 340; P.A. 02-111, S. 31.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-259a transferred to Sec. 36a-541 in
1995; P.A. 02-111 replaced former Subsecs. (a) and (b) with provisions re findings, issuance of license and denial of
application.