Sec. 36a-600. (Formerly Sec. 36-536). Investigation of applicant. Issuance of license.
Sec. 36a-600. (Formerly Sec. 36-536). Investigation of applicant. Issuance of
license. (a) Upon the filing of an application for an original license, and the payment
of the fees for investigation and license, the commissioner shall investigate the financial
condition and responsibility, financial and business experience, character and general
fitness of the applicant. The commissioner shall approve conditionally any application,
if the commissioner finds that:
(1) The applicant's financial condition is sound;
(2) The applicant's business will be conducted honestly, fairly, equitably, carefully
and efficiently within the purposes and intent of sections 36a-595 to 36a-610, inclusive,
and in a manner commanding the confidence and trust of the community;
(3) (A) If the applicant is an individual, such individual is in all respects properly
qualified and of good character, (B) if the applicant is a partnership, each partner is in
all respects properly qualified and of good character, (C) if the applicant is a corporation
or association, each president, chairperson of the executive committee, senior officer
responsible for the corporation's business, chief financial officer or any other person
who performs similar functions as determined by the commissioner, director, trustee
and each shareholder owning ten per cent or more of each class of the securities of such
corporation is in all respects properly qualified and of good character, or (D) if the
applicant is a limited liability company, each member is in all respects properly qualified
and of good character;
(4) The applicant is in compliance with the provisions of sections 36a-603 and
36a-604;
(5) No person on behalf of the applicant knowingly has made any incorrect statement of a material fact in the application, or in any report or statement made pursuant
to sections 36a-595 to 36a-610, inclusive;
(6) No person on behalf of the applicant knowingly has omitted to state any material
fact necessary to give the commissioner any information lawfully required by the commissioner.
(b) If the commissioner conditionally approves an application, the applicant shall
have thirty days, which the commissioner may extend for cause, to comply with the
requirements of section 36a-602. Upon such compliance, the commissioner's conditional approval shall become final, and the commissioner shall issue a license to the
applicant. The commissioner shall not issue a license to any applicant unless the applicant is in compliance with all the requirements of subsection (a) of this section and
section 36a-602 and has paid the investigation and license fee required under section
36a-599.
(P.A. 81-264, S. 7; P.A. 94-122, S. 278, 340; P.A. 01-56, S. 7; P.A. 04-14, S. 5; P.A. 08-119, S. 13.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-536 transferred to Sec. 36a-600 in
1995; P.A. 01-56 amended Subsec. (a) by adding new Subdiv. (3) re good character of various persons as applicants and
by renumbering existing Subdivs. (3) to (5) as Subdivs. (4) to (6); P.A. 04-14 amended Subsec. (b) to require that applicant
pay investigation and license fee required under Sec. 36a-599; P.A. 08-119 added Subsec. (a)(3)(D) re applicant that is a
limited liability company.