License application form and contents; waiver; rules

(1)(a) An applicant for a license to conduct a check-cashing business shall apply in writing on a form and in a format that the Director of the Department of Consumer and Business Services prescribes by rule. (b) The director, consistent with the requirements of ORS 697.500 to 697.555, may administer a program to issue and renew licenses for check-cashing businesses by means of an agreement with the Nationwide Multistate Licensing System and may, by rule, conform the practices, procedures and information that the Department of Consumer and Business Services uses to issue or renew a license to the requirements of the Nationwide Multistate Licensing System. (2) An application for a license to conduct a check-cashing business must contain all of the following: (a) The applicant’s name, together with any fictitious name, assumed business name or trade name the applicant uses in conducting the applicant’s business; (b) The name and address of all of the applicant’s members, partners, officers, directors or principals, as appropriate; (c) The name and address of the applicant’s agent for the service of process, notice or demand, or a power of attorney that the applicant has executed and by which the applicant appoints the Director of the Department of Consumer and Business Services as the applicant’s agent for service of process, notice or demand; (d) The applicant’s principal business address, the location of the applicant’s business records and the addresses for all locations where the applicant conducts or proposes to conduct a check-cashing business; and (e) Other information that the director may require concerning the applicant’s financial responsibility, background experience and business activities and the financial responsibility, background experience and business activities of the applicant’s members, partners, officers, directors and principals. (3) The director, for good cause shown or in order to conform the department’s licensing and license renewal program to the requirements of the Nationwide Multistate Licensing System, may waive any requirement of this section with respect to any license application or may allow an applicant to submit substituted information in a license application in lieu of the information required under subsection (2) of this section.