Section 0180-18-.05 - MAIN AND BRANCH OFFICE LOCATIONS(1) SCOPE. This rule establishes procedures for the opening of branch offices of a BIDCO, the relocation of an office, and the closing of an office.(2) Pursuant to Section 11 of the Act, each BIDCO shall maintain an office in the state. If more than one office is located within the state, one office shall be designated by the BIDCO as the location at which examinations by the commissioner are principally conducted.(3) Branch offices may be opened by the payment of the licensing fee and providing written notice to the commissioner of the BIDCO's intent to establish another location. This notice shall contain, at a minimum:(a) The name and main office address of the BIDCO;(b) The address of the proposed branch office;(c) The functions to be performed at the branch;(d) The proposed personnel/staffing at the branch;(e) A statement acknowledging the books and records availability requirements set forth in rule 0180-18-.02(4); and(f) Any other information the commissioner may require or the applicant may choose to provide.(4) If, on the basis of the information submitted, the commissioner concludes that the request for a branch office should be approved, the commissioner shall issue an order permitting the BIDCO to conduct the business of, and incidental to, the BIDCO at the additional address.(5) No licensee shall maintain an office at any other location than those approved by the commissioner.(6) Upon twenty (20) days written notice to the commissioner, and with the consent of the same, a licensee may relocate or close an office.Tenn. Comp. R. & Regs. 0180-18-.05
Original rule filed December 27, 1989; effective March 28, 1990.Authority: Public Chapter 124, Acts of 1989, Sections 6 and 11.