§ 19-14-7. Issuance or denial of license.
(a) Upon the filing of a completed application, the payment of fees and the approval of the bond, the director, or the director’s designee, shall commence an investigation of the applicant.
(b) After the investigation determines that a completed application has been filed, the director, or the director’s designee, shall approve the license applied for in accordance with the provisions of this chapter if he or she shall find:
That the financial responsibility, experience, character, and general fitness of the applicant, and of the applicant’s members and of the applicant’s officers, including the designated manager of record of a licensed location, if the applicant is a partnership, limited liability company or association, or of the officers including the designated manager of record of a licensed location, and directors and the principal owner or owners of the issued and outstanding capital stock, if the applicant is a corporation, are such as to command the confidence of the community and to warrant belief that the business will be operated honestly, fairly, and efficiently within the purposes of this title.
(c) A license provided pursuant to this title shall remain in full force and effect until it is surrendered by the licensee or revoked or suspended as provided by law. The licensee is, however, subject to suspension or revocation for failure to comply with any applicable provision of this title or regulation promulgated thereunder.
(d) If the director, or the director’s designee, rejects an application for a license, he or she shall notify the applicant, in writing, and advise the applicant of the reason for the denial of the application for license. When an application for a license is denied by the director, or the director’s designee, or withdrawn by the applicant, the director, or the director’s designee, shall return to the applicant the bond, but shall retain the investigation fee to cover the costs of investigating the application. The applicant may make written demand for hearing upon the director, or director’s designee, within thirty (30) days of the notice to determine the reasonableness of the action to deny the license.
(e) Any applicant or licensee aggrieved by the action of the director, or the director’s designee, in denying a completed application for a license shall have the right to appeal the action, order, or decision pursuant to chapter 35 of title 42.
History of Section.P.L. 1995, ch. 82, § 52; P.L. 2007, ch. 73, art. 16, § 1; P.L. 2007, ch. 244, § 1; P.L. 2009, ch. 148, § 1; P.L. 2009, ch. 160, § 1; P.L. 2012, ch. 65, § 2; P.L. 2012, ch. 145, § 2; P.L. 2014, ch. 106, § 3; P.L. 2014, ch. 125, § 3.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Chapter 19-14 - Licensed Activities
Section 19-14-1. - Definitions.
Section 19-14-2. - Licenses required.
Section 19-14-3. - Application for license.
Section 19-14-4. - Annual fee.
Section 19-14-5. - Minimum capital.
Section 19-14-6. - Bond of applicant.
Section 19-14-7. - Issuance or denial of license.
Section 19-14-8. - Denial of license due to incomplete application.
Section 19-14-9. - Contents of license.
Section 19-14-10. - Agent for service of process.
Section 19-14-11. - Prohibition or transfer or assignment of license.
Section 19-14-12. - Place of business — Branch offices — Name changes.
Section 19-14-13. - Revocation of license.
Section 19-14-14. - Revocation by default.
Section 19-14-15. - Suspension of license.
Section 19-14-16. - Surrender of license.
Section 19-14-17. - Contracts unimpaired by revocation, suspension, or surrender of license.
Section 19-14-18. - Reinstatement of license.
Section 19-14-19. - Filing findings on revocation or suspension.
Section 19-14-20. - Books, accounts, and records.
Section 19-14-21. - Advertising and misrepresentations.
Section 19-14-22. - Reporting requirements.
Section 19-14-23. - Examinations and investigations.
Section 19-14-24. - Tying with other business.
Section 19-14-25. - Transactions and place of business limited by license — Remote locations.
Section 19-14-26. - Penalty for violations.
Section 19-14-26.1. - Additional penalties.
Section 19-14-27. - Modification or repeal of chapter.
Section 19-14-28. - Appeal from director.
Section 19-14-29. - Appropriations — Fees.
Section 19-14-30. - Rules and regulations.
Section 19-14-31. - Pre-existing contracts.
Section 19-14-32. - Severability.
Section 19-14-33. - Compliance with federal law governing licensed activities.