399-G:5 License and Registration Grant and Renewal. –
I. Upon the applicant's filing of the complete application, and payment of the required fee, the commissioner shall have, in accordance with RSA 541-A:29, up to 120 days to investigate and determine whether the applicant's financial resources, experience, personnel, and record of past or proposed conduct warrant the public's confidence and the issuance of a license.
II. If the commissioner determines that the applicant meets the requirements of this chapter, then the commissioner shall issue a license and or registrations permitting the applicant to engage in the business of money transmission in accordance with the laws of this state.
III. Each license issued under the provisions of this chapter shall state the name and address of the principal office of the licensee. Each registration issued under the provisions of this chapter shall state the name and address of the authorized delegate location for which that registration is issued.
IV. If a licensee is a person other than a natural person, the license issued to it shall entitle all officers, directors, members, partners, trustees, and employees, and authorized delegates of the licensee to engage in the business of money transmission; provided that one officer, director, member, partner, employee, or trustee of such person shall be designated in the license as the individual to be contacted for purposes of this chapter.
V. If the licensee is a natural person, the license shall entitle all employees and authorized delegates of the licensee to engage in the business of money transmission.
VI. A principal office license or authorized delegate registration issued under this chapter shall not be transferable or assignable between persons without obtaining the approval of the commissioner before the assignment or transfer.
VII. Each license or registration shall remain in force until it has been surrendered, revoked, or suspended in accordance with the provisions of this chapter, or expires in accordance with the provisions of this chapter. Each license or registration shall expire on December 31 of each calendar year.
VIII. If a person holds a valid license or registration under this section and is in compliance with this chapter and the rules pursuant to this chapter, such licensee may renew the principal office license and authorized delegate registrations by paying the required fee to the banking department on or before December 31 for the ensuing year that begins on January 1. Failure to renew the license or registration shall result in the license or registration terminating on December 31.
IX. A renewal fee shall be submitted with the application for renewal as follows:
(a) $500 for the principal office license, and
(b) $25 for each authorized delegate registration.