2.59.315 LICENSE SURRENDER
(1) The department may decline to accept a licensee's offer to surrender a license under the following circumstances:
(a) the licensee has not fully complied with ARM 2.59.319;
(b) the licensee has not made a succession plan that adequately protects consumers related to the continued servicing of the licensee's active loan files;
(c) the licensee has not fully complied with a final order issued by the department in an enforcement action even though compliance is not yet due;
(d) the department has an outstanding complaint or a pending enforcement action against the licensee; or
(e) the licensee has not submitted an annual report covering the final calendar year or partial year that the licensee was in business irrespective of whether the licensee had any Montana loan activity during that reporting period.
(2) Once the department accepts an offer to surrender a license, the license may not be reinstated but the former licensee may reapply for a new license at any time.
History: 32-5-205, 32-5-209, MCA; IMP, 32-5-205, 32-5-209, MCA; NEW, 2014 MAR p. 2447, Eff. 10/10/14; AMD, 2015 MAR p. 2246, Eff. 12/25/15; AMD, 2022 MAR p. 228, Eff. 2/12/22.