(a) Any person acting as a merchant, as defined by W.S. 40-19-102(a)(viii), in this state shall be licensed with a single statewide license to conduct such business under this section. (b) The commissioner shall receive and act on all applications for licenses required under this act. Applications shall be filed in the manner prescribed by the commissioner and shall contain the information the commissioner requires by rule to make an investigation and evaluation of the financial responsibility, experience and business qualification of the applicant, and of the partners or members if the applicant is a partnership or association, and of the principal officers and directors if the applicant is a corporation, such as to warrant belief that the business will be operated honestly and fairly within the purposes of this act. (c) The application for one (1) or more licenses shall be accompanied by a processing fee not to exceed five hundred dollars ($500.00) set by rule of the commissioner. The fee shall be deposited by the commissioner with the state treasurer and credited to the financial institutions administration account. Funds from the account shall be expended to carry out the duties of the commissioner. If the expenses of the investigation and evaluation exceed the amount of the fee, the applicant shall reimburse the commissioner the excess amount. If the expenses of the investigation and evaluation are less than the amount of the fee, the unexpended amount shall remain within the account. If an application is withdrawn by the applicant at any time prior to the completion of the investigation and evaluation, the unexpended amount shall remain within the account. (d) Except as otherwise provided, fees collected by the commissioner under this act shall be deposited by the commissioner with the state treasurer and credited to the financial institutions administration account. Expenditures shall be made from the account by warrants drawn by the state auditor, upon vouchers issued and signed by the commissioner. The funds deposited in the account under this act shall be expended only to carry out the duties of the commissioner. (e) The applicant shall be notified when the application is approved. Within twenty (20) days after notification, the applicant shall pay an initial license fee that shall include only the following: (i) An amount not to exceed five hundred dollars ($500.00) for each place of business which is a physical location, as set by rule of the commissioner; (ii) An amount not to exceed one thousand dollars ($1,000.00) if the applicant displays or offers rental-purchase property through an independent third-party retailer location regardless of the number of independent third-party retailer locations, as set by rule of the commissioner; and (iii) An amount not to exceed five hundred dollars ($500.00) if the applicant has a place of business that is an online presence, and the applicant is not subject to the amounts in paragraphs (i) or (ii) of this subsection. (f) Each place of business, including online presence, and independent third-party retailer location as of the time of application shall be disclosed in the application to the commissioner, provided that the independent third-party retailer locations may be deemed confidential business information and not subject to public disclosure. (g) Each license shall state the primary address from which the business is to be conducted and the name of the licensee. The license shall be prominently displayed at each place of business of the licensee that is a physical location open to consumers. If the licensee has no physical location that is a place of business open to consumers, the license number shall be clearly displayed at the online presence of the licensee. The license shall not be transferable or assignable. (h) If a licensee wishes to move the primary address listed on the license to another location, the licensee shall: (i) Give written notice to the commissioner at least thirty (30) days prior to the move; and (ii) Pay a license modification fee not to exceed one hundred dollars ($100.00), as set by rule of the commissioner. (j) Each license issued under this section shall expire on December 31. The license shall be renewed annually not less than thirty (30) days before the expiration date by submitting a request for renewal on a form designated by the commissioner. The licensee shall pay a renewal fee that shall only include the following: (i) An amount not to exceed five hundred dollars ($500.00) for each place of business which is a physical location, as set by rule of the commissioner; (ii) An amount not to exceed one thousand dollars ($1,000.00) if the applicant displays or offers rental purchase property through an independent third-party retailer location regardless of the number of independent third-party retailer locations, as set by rule of the commissioner; and (iii) An amount not to exceed five hundred dollars ($500.00) if the applicant has an online presence that is a place of business, and the applicant is not subject to the amounts in paragraph (i) or (ii) of this subsection. (k) Any fee charged and collected under this section shall be in accordance with W.S. 13-1-603(d) through (f).
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