1. A person may apply to the Commissioner for an exemption from the provisions of this chapter governing the making of a loan of money. 2. The Commissioner may grant the exemption if he or she finds that: (a) The making of the loan would not be detrimental to the financial condition of the lender, borrower or person who is providing the money for the loan; (b) The lender, borrower or person who is providing the money for the loan has established a record of sound performance, efficient management, financial responsibility and integrity; (c) The making of the loan is likely to increase the availability of capital for a sector of the state economy; and (d) The making of the loan is not detrimental to the public interest. 3. The Commissioner: (a) May revoke an exemption unless the loan for which the exemption was granted has been made; (b) Shall issue a written statement setting forth the reasons for his or her decision to grant, deny or revoke an exemption; and (c) Shall adopt regulations which provide the application forms to be used to apply for an exemption and the fees to be paid along with the application.
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