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Application for Change in Control/Ownership of Check Casher Licensee

June 30, 2014
Application for Change in Control/Ownership of Check Casher Licensee

A check casher change in control is only applicable for licensees that are owned by a corporation. A sole proprietorship or partnership that is experiencing a change in control must apply for a new license.

This application must be filed by any/each person seeking to acquire 10% or more of the voting shares of a corporation or a 10% or more controlling interest in any other entity licensed to conduct business as a Check Casher in Georgia.  There is a non-refundable application fee of 500 dollars.

Change in Officer or Director of a Licensee - Prior to taking position, any/each person seeking to be an officer or director of a check casher licensee must provide certain documentation in order to be approved by this Department. This is similar to the process for one seeking to acquire 10% or more.

Note that a credit report will be pulled as permission is granted by the MSB3 Form. Issues including collections, charge-offs with balances, public records/liens, will need to be resolved prior to approval.

APPLICATION REQUIRED WHEN:

  1. One company buys or invests directly or indirectly in a licensee
  2. Individuals become owners of 10% or more
  3. New directors join the Board of Directors
  4. Officer changes occur, including the Compliance Officer

Please do not bind, hole punch or staple the application package.