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(b) just before sale or project of a little buck loan contract held by the little buck loan provider because of a tiny buck loan, the lending company shall spot a notice from the tiny buck loan agreement in at the least twelve-point type that reads:
SMALL DOLLAR LOAN
No licensee may pledge, negotiate, offer, or designate a dollar that is small, except to a different licensee or even to a bank, cost savings bank, trust business, cost cost cost savings and loan or building and loan association, or credit union arranged underneath the rules of Hawaii or even the laws and regulations of this usa."
-17 Maintenance of publications and records. (a) Every little buck loan provider shall retain in a safe and protected destination those books and documents that straight relate genuinely to any little buck loan made inside this State, along with other publications and records because can be needed for the commissioner to make certain full conformity because of the regulations for this State.
(b) All books and documents might be maintained as originals or photocopies, on microfilm or microfiche, on computer disks or tapes, no credit check payday loans online in Illinois or comparable forms; so long as the publications and documents are easily available and can even be effortlessly analyzed.
(c) All documents, statements, and reports needed or authorized by this chapter will probably be produced in writing in the English language.
(d) Every lender shall protect each of its records for at the least six years or even for a higher or lower duration since the commissioner may recommend by guideline used pursuant to chapter 91.
Role II. LICENSING
-31 permit required. No individual, unless exempt under this chapter, shall behave as a tiny buck lender in this State unless certified to take action because of the commissioner.
-32 Exemptions. This chapter shall maybe maybe maybe not connect with the annotated following:
(1) a lender;
(2) A nondepository monetary solution financial institution;
(3) an end that is"open plan", as defined into the Truth in Lending Act, 15 united states of america Code part 1602(j); or
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