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... We are licensed to loan in Delaware, Utah, and Nevada. ... nobody has explained or cited a law saying that we have to be licensed in a state to do business in that state.
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O.K., now I'm in this and so is an advocate from Utah who is working with legislators in Utah right now to change the PDL laws here. There are currently 5 bills before the legislature now. I'm pretty sure that at least one will pass. However, to address your contention that you don't have to be licensed, I refer you to
http://www.tax.utah.gov/forms/pubs/pub-38.pdf
This is a 77 page document published by the Utah State Tax Commission advising how and why you need to be licensed in Utah to do business. You state that you are. If so, under what name? CashNet500 isn't licensed. Payday-Loan-Yes isn't licensed and yet it decides to set up shop in Murray, Utah. (Someone really ought to talk to property management companies about checking on the valid authority of a entity to do business in the state before it sets up shop) and Global Financial is not licensed. So, where is your proof. Please provide your Utah Entity number (hint: it has 7 numbers offset with a dash and another 4 numbers). What is your NAICS code. Who is your registered agent in Utah and don't tell me CT Corp. The fact is that you guys have set up shop here, are doing business here without legal authority and you are running a lot of money through this state without proper licensing. The Utah State Tax Commission will be apprised of this newest discovery and it is a matter of time before the doors at 4001 South 700 East, Suite 500, Murray, Utah are shut for good.[/u]
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