§ 58-9-6. Licensing.
§ 58‑9‑6. Licensing.
(a) The Commissionershall issue an intermediary license or an exemption from the license, subjectto G.S. 58‑9‑2(b)(2) or G.S. 58‑9‑2(c)(3), to anyperson who has complied with the requirements of this Article. A license issuedto a non corporate entity authorizes all of the members of the entity and anydesignated employees to act as intermediaries under the license, and thosepersons shall be named in the application and any supplements. A license issuedto a corporation authorizes all of the officers and any designated employeesand directors of the corporation to act as intermediaries on behalf of thecorporation, and those persons shall be named in the application and anysupplements.
(b) If an applicant foran intermediary license is a nonresident, the applicant, before receiving alicense, shall designate the Commissioner as his agent for service of legalprocess and shall furnish the Commissioner with the name and address of aresident of this State upon whom notices or orders of the Commissioner orprocess affecting the nonresident intermediary may be served. The licenseeshall notify the Commissioner in writing of every change in his designatedagent for service of process within five business days after the change, andthe change shall not become effective until acknowledged by the Commissioner.
(c) The Commissionershall refuse to issue an intermediary license if:
(1) The applicant,anyone named on the application, or any member, principal, officer, or directorof the applicant is not trustworthy;
(2) Any controllingperson of the applicant is not trustworthy to act as an intermediary; or
(3) Any of the personsin subdivisions (1) and (2) of this subsection has given cause for revocationor suspension of the license or has failed to comply with any prerequisite forthe issuance of the license.
Upon written request, theCommissioner shall furnish a summary of the basis for refusal to issue alicense.
(d) Attorneys‑at‑lawlicensed by this State are exempt from this section when they are acting intheir professional capacities. (1993, c. 452, s. 20; 2001‑223, s. 10.1.)