Section 1850.32 - New Branch Office Registration or Change in Location of Existing Branch Office(a) A licensee that seeks to engage in business at a new branch office or at a new location for an existing branch office must register the new branch office by filing a Form MU3 in accordance with the instructions of NMLS for transmission to the Commissioner within thirty (30) calendar days of the date of engaging in business at the new branch office or new location.(b) If a licensee intends to conduct business at a branch office under a fictitious business name not already approved by the Commissioner, the licensee shall file with NMLS a copy of the Fictitious Business Name Statement with the "filed" stamp from the county clerk's office.(c) A licensee shall not use a fictitious business name until the Commissioner approves the use of the name.(d) A licensee shall comply with the laws governing the filing of a fictitious business name set forth in Business and Professions Code Sections 17900 through 17930.(e) A licensee shall indicate the branch manager as a branch manager on Form MU3, file with NMLS a Form MU2 for the branch manager, and provide the necessary authorizations to enable NMLS to obtain a credit report for the branch manager.(f) A licensee shall provide on Form MU3 the full web address for the new branch office and any separate website(s) for the fictitious business names and indicate whether the applicant transacts business through the website(s).(g) Fingerprinting fees specified in Sections 1850.7 and 1850.9 of these rules shall be paid by the licensee, and any other fees payable through NMLS, including fees, if any, to file the new or changed information, shall be paid by the licensee to NMLS for transmission to the Commissioner. Any fees that cannot be paid through NMLS shall be paid directly to the Commissioner. The NMLS fees for obtaining credit reports and any other NMLS fees shall be paid by the licensee to NMLS through NMLS. Fees are not refundable.(h) The Commissioner may request other information, documentation, or detail pertaining to the branch office that cannot be filed through NMLS to be filed directly with the Commissioner.(i) The Commissioner shall approve or deny the individual designated as the branch manager at the new location and notify the licensee of this decision within ninety (90) calendar days of the licensee's notification of the new location.(j) If the Commissioner denies the individual designated as the branch manager, the licensee shall, within ten (10) calendar days of the date of receipt of notification of the Commissioner's denial, designate a different individual as the branch manager at the new location. The Commissioner shall approve or deny the different individual as provided in subsection (i) of this section.(k) A change of the street address of an applicant's principal place of business designated in a license application shall be made in accordance with Section 1850.30(d) of these rules and shall not constitute a new location subject to the requirements of this section.Cal. Code Regs. Tit. 10, § 1850.32
Note: Authority cited: Section 100003, Financial Code. Reference: Sections 100006.3 and 100018, Financial Code.
1. New section filed 12-22-2021; operative 12/22/2021 pursuant to Government Code section 11343.4(b)(3) (Register 2021, No. 52). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.