When ceasing my small loan business, what information must I file before I close the business?
(1) You must notify the department at least thirty days before ceasing operations. The notice must be in writing, signed by a principal of the small loan licensee, and include the following:
(a) The date you will cease small loan activity;
(b) A list of all open and pending transactions;
(c) Your contact address and email address; and
(d) Your plan for the orderly closure of open loans on the database system.
(2) For purposes of this section, the term "ceasing operations" means that you have closed the offices to the public or have removed public access to the web site, if such access is the sole means of communication with customers. This provision does not apply if you have given customers a reasonable alternative for communications and payments.
[Statutory Authority: Chapter 43.320
RCW, RCW 31.45.200
. WSR 16-10-046, § 208-630-836, filed 4/29/16, effective 6/1/16. Statutory Authority: RCW 43.320.040
, and 2009 c 510. WSR 09-24-089, § 208-630-836, filed 12/1/09, effective 1/1/10.]