A. Upon the filing of an application, bond and the payment of an annual license fee and a one-time investigation fee by a dealer, the Administrator of Consumer Credit shall conduct an investigation of the applicant prior to issuance of a dealer license.

B. Upon the filing of an application, and payment of the fee as provided for in subsection A of Section 1526 of this title, and payment of a fee by an employee of a licensed dealer, the Administrator shall conduct an investigation of the applicant prior to issuance of an employee license.

C. Upon renewal of a license for either a dealer or an employee, the Administrator may conduct an investigation at the Administrator’s discretion or at the request of a district attorney for any county in which the applicant has a permanent place of business.

D. If the Administrator finds that the financial responsibility, experience and character of the dealer are such as to warrant belief that the business will be operated lawfully and fairly, within the purposes of the Precious Metal and Gem Dealer Licensing Act, the dealer shall be issued a license.

E. A separate license shall be required for each location, place or premises used by a dealer for the conducting of business pursuant to the provisions of the Precious Metal and Gem Dealer Licensing Act and each license shall designate the location, place, or premises to which it applies. The business of the dealer shall not be conducted in any place other than that designated by the license. The license shall not be transferable.

F. If the Administrator does not find facts sufficient to warrant issuance of a license, the Administrator shall notify the applicant. If within thirty (30) days of such notification the applicant requests a hearing on the application, a hearing shall be held within sixty (60) days after the day of the request. In the event of the denial of a license, the investigation fee shall be retained by the Administrator, but the annual license fee shall be returned to the applicant.

G. The Administrator shall grant or deny an application for license within sixty (60) days from the day of filing or from the last day of a hearing as provided in subsection F of this section, unless the period is extended by written agreement between the applicant and the Administrator.

H. The Administrator may issue more than one license to any one person upon compliance with the provisions of the Precious Metal and Gem Dealer Licensing Act as to each license. When a dealer wishes to move the dealer’s business to another location, the dealer shall give thirty (30) days' written notice to the Administrator, who shall amend the license accordingly.

I. Licensed pawnbrokers shall not be subject to any of the fees provided for in this section.

Added by Laws 1981, c. 213, § 5, operative July 1, 1981. Amended by Laws 1982, c. 72, § 2; Laws 2009, c. 431, § 5, eff. July 1, 2009; Laws 2010, c. 415, § 18, eff. July 1, 2010.