WVC 32 A- 2 - 4
§32A-2-4. License application, issuance and renewal.
(a) An applicant for a license shall submit an application to
the commissioner on a form prescribed by the commissioner. The
commissioner may direct an applicant to file a license application
through the Nationwide Mortgage Licensing System and Registry
operated by the State Regulatory Registry, LLC.
(b) Each application shall be accompanied by a nonrefundable
application fee and a license fee. If the application is approved,
the application fee is the license fee for the first year of
(c) The commissioner shall issue a license if the commissioner
finds that the applicant meets the requirements of this article and
the rules adopted under this article. The commissioner shall
approve or deny every application for an original license within
one hundred twenty days from the date a complete application is
submitted, unless the commissioner extends the period for good
cause. All licenses issued under this article expire on December
31 of the year issued, unless sooner suspended or revoked, and are
subject to renewal for the following year.
(d) The licensee at each office it owns and operates in West
Virginia shall prominently display, or maintain available for
inspection, a copy of the license authorizing the conduct of a
currency exchange business if the location offers and provides such
services. Where the currency exchange business is conducted
through a licensee's authorized delegates in this state, each authorized delegate location offering such services shall maintain
available for inspection proof of their appointment by the licensee
to conduct such business.
(e) As a condition for renewal of a license, the licensee must
submit to the commissioner an application for renewal on a form
prescribed by the commissioner and an annual license renewal fee.
The commissioner may direct an applicant to file a license renewal
application through the Nationwide Mortgage Licensing System and
Registry operated by the State Regulatory Registry, LLC.
(f) A license issued under this article may not be transferred
(g) An applicant for a license who is not located in this
state shall file an irrevocable consent, duly acknowledged, that
suits and actions may be commenced against the applicant in the
courts of this state by service of process upon a person located
within the state designated to accept service, or by service upon
the Secretary of State, as well as by service as set forth in this
Note: WV Code updated with legislation passed through the 2015 Regular Session
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