§ 58-27-10. Licenses. - North Carolina Statutes

§58‑27‑10.  Licenses.

Any domestic land mortgagecompany, or title insurance company, wishing to do business under theprovisions of this Article upon making written application and submitting proofsatisfactory to the Commissioner that its business, capital and otherqualifications comply with the provisions of this Article, upon paying to theCommissioner, the sum of five hundred dollars ($500.00) as a license fee andall other fees assessed against such company may be licensed to do business inthis State under the provisions of this Article until the first day of thefollowing July, and may have its license renewed for each year thereafter solong as it complies with the provisions of this Article and such rules adoptedby the Commissioner. For each such renewal such company shall pay to theCommissioner the sum of one thousand dollars ($1,000), and all other feesassessed against such company and such renewal shall continue in force andeffect until a new license be issued or specifically refused, unless revokedfor good cause. The Commissioner, or any person appointed by him, shall havethe power and authority to make such rules and regulations and examinations notinconsistent with the provisions of this Article, as may be in his discretionnecessary or proper to enforce the provisions hereof and secure compliance withthe terms of this Article. For any examination made hereunder the Commissionershall charge the land mortgage companies or title insurance companies examinedwith the actual expense of such examination. (1927, c. 204, s. 2; 1955, c.179, s. 3; 1991, c. 720, s. 4; c. 721, s. 1; 1999‑435, s. 4.)