Sec. 36a-599. (Formerly Sec. 36-534). Investigation, license and name change fees. Term of license. Surrender of license.
Sec. 36a-599. (Formerly Sec. 36-534). Investigation, license and name change
fees. Term of license. Surrender of license. (a) Each application for an original license
shall be accompanied by a nonrefundable investigation fee of five hundred dollars and
a license fee of two thousand dollars, except that if such application is filed not earlier
than one year before the date such license will expire, the applicant shall pay a nonrefundable investigation fee of five hundred dollars and a license fee of one thousand dollars.
Each application for a renewal license shall be accompanied by a license fee of two
thousand dollars, or in the case of a license that expires on June 30, 2007, a license
fee of two thousand two hundred fifty dollars. The license fee shall be refunded if the
application for an original license is denied, the commissioner refuses to issue a renewal
license or an application for a license or renewal license is withdrawn prior to issuance
of a license or renewal license by the commissioner. Each licensee shall pay to the
commissioner a nonrefundable name change fee of one hundred dollars for each application to change a name. No licensee shall use any name other than the name specified
on the license issued by the commissioner.
(b) A license issued pursuant to sections 36a-595 to 36a-610, inclusive, shall expire
at the close of business on September thirtieth of the odd-numbered year following its
issuance, unless renewed or earlier surrendered, suspended or revoked pursuant to said
sections, provided any license that is renewed effective July 1, 2007, shall expire on
September 30, 2009. Not later than fifteen days after a licensee ceases to engage in this
state in the business of issuing Connecticut payment instruments or ceases to engage in
the business of money transmission for any reason, including a business decision to
terminate operations in this state, license revocation, bankruptcy or voluntary dissolution, such licensee shall surrender to the commissioner in person or by registered or
certified mail its license for each location in which such licensee has ceased to engage
in such business.
(P.A. 81-264, S. 5; P.A. 88-150, S. 8; P.A. 92-89, S. 15, 20; P.A. 98-192, S. 5; P.A. 01-56, S. 6; P.A. 05-46, S. 12; P.A.
06-35, S. 7; P.A. 08-119, S. 12.)
History: P.A. 88-150 amended Subsec. (a) by increasing the investigation fee to $500 and increasing the license fee to
$500, and deleted obsolete Subsec. (c) concerning license fees and the term of a license; P.A. 92-89 deleted the $500
investigation fee and increased the license fee from $500 to $1,000 in Subsec. (a); Sec. 36-534 transferred to Sec. 36a-599
in 1995; P.A. 98-192 amended Subsec. (a) by imposing a nonrefundable investigation fee of $500; P.A. 01-56 amended
Subsec. (a) by eliminating the investigation fee for a renewal license and by making conforming language changes re
renewal license fee and refund of fees; P.A. 05-46 amended Subsec. (a) to add provision re nonrefundable name change
fee of $100 for each application to change a name; P.A. 06-35 amended Subsec. (a) to increase fee for original license
from $1,000 to $2,000, to add exception that if application is filed not earlier than one year before date the license expires,
applicant shall pay nonrefundable investigation fee of $500 and license fee of $1,000, to increase license fee for renewal
license from $1,000 to $2,000, to provide that if license expires on June 30, 2007, fee shall be $2,250, and to prohibit
licensee from using any name other than that specified on license issued by commissioner, and amended Subsec. (b) to
provide that license expires at close of business on September thirtieth of odd-numbered year following issuance, unless
renewed, surrendered, suspended or revoked, except that license renewed effective July 1, 2007, expires on September
30, 2009, and to delete reference to license expiration on thirtieth day of June following date of issuance; P.A. 08-119
amended Subsec. (b) to add requirement for surrender of license when licensee ceases to engage in the business of issuing
Connecticut payment instruments or of money transmission.