North Carolina General Statutes 58-9-6. Licensing
(a) The Commissioner shall issue an intermediary license or an exemption from the license, subject to N.C. Gen. Stat. § 58-9-2(b)(2) or N.C. Gen. Stat. § 58-9-2(c)(3), to any person who has complied with the requirements of this Article. A license issued to a non corporate entity authorizes all of the members of the entity and any designated employees to act as intermediaries under the license, and those persons shall be named in the application and any supplements. A license issued to a corporation authorizes all of the officers and any designated employees and directors of the corporation to act as intermediaries on behalf of the corporation, and those persons shall be named in the application and any supplements.
(b) If an applicant for an intermediary license is a nonresident, the applicant, before receiving a license, shall designate the Commissioner as his agent for service of legal process and shall furnish the Commissioner with the name and address of a resident of this State upon whom notices or orders of the Commissioner or process affecting the nonresident intermediary may be served. The licensee shall notify the Commissioner in writing of every change in his designated agent for service of process within five business days after the change, and the change shall not become effective until acknowledged by the Commissioner.
(c) The Commissioner shall refuse to issue an intermediary license if:
(1) The applicant, anyone named on the application, or any member, principal, officer, or director of the applicant is not trustworthy;
Terms Used In North Carolina General Statutes 58-9-6
- Commissioner: includes the Commissioner's authorized deputies and employees. See North Carolina General Statutes 58-9-2
- Controlling person: means any person who directly or indirectly has the power to direct or cause to be directed the management, control, or activities of an intermediary. See North Carolina General Statutes 58-9-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
- Intermediary: includes a broker or a manager, as those terms are defined in this section. See North Carolina General Statutes 58-9-2
- Service of process: The service of writs or summonses to the appropriate party.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) Any controlling person of the applicant is not trustworthy to act as an intermediary; or
(3) Any of the persons in subdivisions (1) and (2) of this subsection has given cause for revocation or suspension of the license or has failed to comply with any prerequisite for the issuance of the license.
Upon written request, the Commissioner shall furnish a summary of the basis for refusal to issue a license.
(d) Attorneys-at-law licensed by this State are exempt from this section when they are acting in their professional capacities. (1993, c. 452, s. 20; 2001-223, s. 10.1.)