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| Premium Finance Agency, Change in Control |
 Permit Information
| Permit ID: |
BANK-0106 |
Agency Code: |
0700 |
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| Agency Name: |
Financial Services, Department of (Banking Industry) |
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| Permit Name: |
Premium Finance Agency, Change in Control |
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| Permit Description: |
Obtains regulatory approval for change in control of a licensed premium finance agency. |
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| Application Form: |
Application for License as a Premium Finance Company |
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| Form Number/Date: |
DFSPF Rev 10.03.2011 |
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| Downloadable Application Form: |
http://dfs.ny.gov/banking/ialfpfac.pdf, http://dfs.ny.gov/banking/ialfpfi.htm |
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| Apply Online: |
Not Available |
Authority
| Statutory Authority: |
NYS Banking Law, Section 555-a, Article XII-B |
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| Regulatory Authority: |
None |
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Federal Authority:
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None |
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Category of Business
Regulated by Permit: |
Finance & Insurance & Real Estate |
Fees and Requirements
| Fees: |
Type Amount Returnable
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1. Change of Control $3,000.00 Yes
Comments: None
2. Fingerprints $105.00 No
Comments: Fee Payable to L-1 Enrollment Services.
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| Fee Payment Options: |
Personal Check, Postal Money Order, Certified Check |
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| Comments: |
Checks payable to the Superintendent of Financial Services |
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Additional
Documentation: |
1. Professional License
Sometimes Required
2. Character References
Always Required
3. Proof of Training/Experience
Always Required
4. Project Description
Always Required
5. Financial Information
Always Required
6. Formal Educational Information
Always Required
7. Personal Background Information
Always Required
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| Comments: |
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| Supplemental Permits: |
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None |
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| Comments: |
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| Special Requirements: |
1. Public Notice
Always Required
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| Comments: |
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| Additional Information: |
1. A pre-application conference is recommended
2. Permit applications can be rejected by the agency without being approved or disapproved
3. Permit application must be notarized
4. The agency has an appeal process for a denied application
5. Permit/license must be posted |
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| Comments: |
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Processing
| Average Application Processing: |
Initial: |
90 |
Days |
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Renewal: |
0 |
Days |
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| Common Denial Reasons: |
Insufficient information, Incorrect information, Lack of qualifying experience |
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| Permit Term: |
One-time |
Explain: |
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| Renewable: |
No |
How Often:
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| Automatically Sent: |
No |
Explain: |
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| Grace Period: |
No |
Explain: |
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| Late Penalty: |
No |
Explain:
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| Application Submittal: |
Facsimile/Photocopy, Mail, In Person |
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Comments:
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Licensing/Application Inquiries
| Agency: |
NYS Department of Financial Services (Banking Industry) |
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| Address: |
Licensed Financial Services Division
One State Street
New York, NY 10004-1511
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| Phone: |
(212) 709-5507 |
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Other Sources
for Applications: |
Agency Website |
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| Agency Website: |
http://dfs.ny.gov
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