[§454F-10.5]  Authorized places of business; designation of managers; branch offices.  (a)  Every mortgage loan originator company licensed under this chapter shall have and maintain a principal place of business in the State and shall designate a manager.

     (b)  A mortgage loan originator company shall not maintain any branch offices in the State in addition to its principal place of business without the prior written approval of the commissioner.  An application to establish a branch office shall be submitted with a nonrefundable application fee as required by section 454F-22.  A mortgage loan originator company that established a branch office pursuant to this subsection shall designate a manager located at each branch office to oversee that branch office.

     (c)  A mortgage loan originator company shall not relocate any office in this State without the prior written approval of the commissioner.  An application to relocate an office shall set forth the reasons for the relocation, the street address of the proposed relocated office, and other information that may be required by the commissioner.  An application to relocate an office pursuant to this subsection shall be submitted with a nonrefundable fee as required by section 454F-22.

     (d)  A mortgage loan originator company shall give the commissioner notice of its intent to close a branch office at least thirty days prior to the closing.  The notice shall:

     (1)  State the intended date of closing; and

     (2)  Specify the reasons for the closing. [L 2010, c 84, pt of §3]