§ 14-251. Registration of nondepository financial institutions.

(a)

It shall be unlawful for any person to own or operate a nondepository financial institution in the city that has not been registered as required by this section. An annual fee of $200.00 shall be charged for the registration required by this section. The fee shall be for the calendar year in which it is paid. The fee shall not be divisible for less than a full calendar year. Registration shall be renewable annually on or before February 1 for the calendar year. Any business commencing during a calendar year shall pay the same fee for a permit for the remaining portion of the calendar year following its commencement.

(b)

The owner of a nondepository financial institution shall register annually by providing to the director the following information regarding the nondepository financial institutions:

(1)

The name, telephone number, facsimile number, and business or residence address of each owner; and, if the owner is a corporation, whether foreign or domestic, the name of the registered agent of the owner and the telephone number and facsimile number and business or residence address of the registered agent, which address information shall include the street name and number, office or suite number if a business address, and the city, state, and zip code;

(2)

The nature and extent of each owner's interest in the business;

(3)

The nature and extent of the owner's interest in the property where the business is located; and if a tenant of the property, provide a true copy of the current lease identifying the landowner and showing the owner's right to occupy the location; and

(4)

The name, telephone number, facsimile number, and business or residence address, including street name and number, city, state and zip code, of the current manager and, if the manager is other than an individual, the name, title, telephone number, facsimile number, and business or residence address, including street name and number, city, state, and zip code, of the individual to be contacted for any purpose under this article relating to the nondepository financial institution.

The use of a public or private post office box or other similar address shall not be sufficient for the purposes of complying with this subsection.

(c)

Any change of ownership of a nondepository financial institution, including, but not limited to, the sale of the nondepository financial institution or any ownership interest therein, shall require the purchaser or transferee to update the information provided under subsection (b) of this section and to file the updated information with the director within 30 days of the effective date of the ownership change. The same requirement shall apply to any change relating to the owner's registered agent and manager. A prior owner shall advise the director that he no longer holds any ownership interest in the property.

(d)

No certificate of occupancy shall be issued for a newly constructed or established nondepository financial institution until the owner complies with the provisions of this article.

(e)

After the owner of a nondepository financial institution complies with the provisions of this section, the director will provide to the nondepository financial institution:

(1)

A registration compliance decal which shall be displayed above a public entrance door to the nondepository financial institution; and

(2)

A registration statement, a true and correct copy of which shall be posted in the nondepository financial institution at all times in a conspicuous place accessible at all times to the public.

(f)

It shall be an affirmative defense to the registration required by this section if the nondepository financial institution is also a convenience store, supermarket, or other retail establishment where consumer retail sales constitute on an annual basis at least 75 percent of the total gross revenue generated on site, as shown in the books, records, receipts or tax records of the business. Upon the request of the director, the owner or manager of a nondepository financial institution claiming this defense to registration, shall allow the director access to the books, records, receipts or tax records of the business showing the total gross revenue generated on site.

(Ord. No. 2011-03, § 1, 3-15-11)