Sec. 36a-542. (Formerly Sec. 36-259b). Renewal of license. Automatic suspension of license or renewal license. Notice. Opportunity for hearing.
Sec. 36a-542. (Formerly Sec. 36-259b). Renewal of license. Automatic suspension of license or renewal license. Notice. Opportunity for hearing. (a) Each person
licensed as a sales finance company may renew such license by filing with the commissioner on or before September first of the year in which the license expires or, in the
case of a license that expires on June 30, 2003, on or before June 1, 2003, a renewal
application on a form prescribed by the commissioner under oath, together with such
exhibits and other pertinent information as the commissioner may require. The license
fee shall be eight hundred dollars, provided the license fee for renewal of a license that
expires on June 30, 2003, shall be nine hundred dollars. Any renewal application filed
with the commissioner under this section after September first, or in the case of a license
that expires on June 30, 2003, after June 1, 2003, shall be accompanied by a one-hundred-dollar late fee and any such filing shall be deemed to be timely and sufficient for purposes
of subsection (b) of section 4-182.
(b) If the commissioner determines that a check filed with the commissioner to pay
a fee under subsection (a) of this section for a renewal application has been dishonored,
the commissioner shall automatically suspend the license or a renewal license that has
been issued but is not yet effective. The commissioner shall give the licensee notice of
the automatic suspension pending proceedings for revocation or refusal to renew and
an opportunity for a hearing on such actions in accordance with section 36a-51.
(1967, P.A. 631, S. 4; P.A. 74-235, S. 1, 2; P.A. 94-104, S. 4; 94-122, S. 255, 340; P.A. 96-71, S. 5, 8; P.A. 02-111, S.
32; P.A. 04-69, S. 17; P.A. 05-46, S. 6.)
History: P.A. 74-235 raised fee from $150 to $00; P.A. 94-104 changed fee to nonrefundable fee, increased the fee
from $200 to $400 and added a o$100 late fee; P.A. 94-122 changed "him" to "the commissioner", effective January 1,
1995; Sec. 36-259b transferred to Sec. 36a-542 in 1995; P.A. 96-71 substituted "license fee" for "nonrefundable fee",
effective July 1, 1996; P.A. 02-111 changed time for filing renewal application to on or before September first of year in
which the license expires or, in the case of a license that expires on June 30, 2003, on or before June 1, 2003, revising
dates constituting untimely filing accordingly, increased license fee to $800, and added provision re $900 fee for license
that expires on June 30, 2003; P.A. 04-69 designated existing provisions as Subsec. (a) and added new Subsec. (b) requiring
commissioner to automatically suspend license or renewal license if commissioner determines that a check filed to pay
the fee for a renewal application has been dishonored and requiring commissioner to give notice of the automatic suspension
pending proceedings for revocation or refusal to renew and an opportunity for a hearing in accordance with Sec. 36a-51; P.A. 05-46 amended Subsec. (a) to provide that renewal application filed with commissioner after September first,
accompanied by late fee, shall be deemed to be timely and sufficient for purposes of Sec. 4-182(b).