TITLE 6
Commercial Law – General Regulatory Provisions

CHAPTER 6-53
Purchase and Sale of Tools and Electronics

SECTION 6-53-2


§ 6-53-2 Application for license – Annual fee – Attorney general to promulgate rules and regulations.

(a) Application for the license shall be in writing, under oath, and in the form prescribed by the attorney general and shall contain the name and address (both of the residence and place of business) of the applicant, and if the applicant is a partnership or association, of every member; and if a corporation, of each officer and director and of the principal owner or owners of the issued and outstanding capital stock; also the city or town with the street and number where the business is to be conducted, and any further information that the attorney general may require. After receipt of an application for a license, the attorney general shall conduct an investigation to determine whether the facts presented in the application are true. The attorney general may also request a record search and a report from the National Crime and Information Center (NCIC) of the Federal Bureau of Investigation. If the application discloses that the applicant has a disqualifying criminal record; or if the investigation indicates that any of the facts presented in the application are not true; or if the records of the department of the attorney general indicate criminal activity on the part of the person signing the application and any other persons named in the application; or if the NCIC report indicates an outstanding warrant for the person signing the application and any other persons named in the application; then the attorney general may initiate a nationwide criminal records check that shall include fingerprints submitted to the Federal Bureau of Investigation regarding the person signing the application and any other persons named in the application. Upon the annual renewal of a license, or the opening of a new branch designated in the license, the attorney general may initiate a nationwide criminal records check that shall include fingerprints submitted to the Federal Bureau of Investigation regarding the licensee and any other persons named in the license. The individual who is subject to the national records check shall be responsible for the cost of conducting such check.

(b) The applicant, at the time of making his or her initial application only, shall pay to the attorney general the sum of fifty dollars ($50.00) as a fee for investigating the application and the additional sum of fifty dollars ($50.00) shall be paid annually. The licensee shall pay an additional fifty dollars ($50.00) annually for each branch designated in the license. Licenses shall not be assignable or transferable to any other person or entity. If the applicant is a holder of a precious metals and dealers license, the fees as required in this section shall be waived.

History of Section.
(P.L. 2011, ch. 399, § 1; P.L. 2013, ch. 502, § 2; P.L. 2013, ch. 507, § 2; P.L. 2014, ch. 528, § 40.)