3 AAC 07.020. Investigation of applicant

(a) The department will conduct an investigation of the applicant and will issue a premium finance company license if all requirements for licensure are met and the department has been reimbursed the full cost of its investigation of the applicant.

(b) If the department finds that the applicant has not met the requirements for licensure, the department will, within 30 days of receipt of the application and fees, notify the applicant that the application is denied and inform the applicant of the hearing procedures if the applicant desires to contest the denial. The 30-day period is stopped for the duration of delays caused by applicant in providing insufficient or inaccurate information or by submitting forms or schedules that do not comply with the law of Alaska. If the application is denied, the $200 annual license fee and the unexpended portion of the investigation fee will be returned to the applicant.

History: Eff. 4/28/79, Register 70

Authority: AS 06.01.010

AS 06.40.070

AS 06.40.180

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