- A. Unless otherwise required by this title or rules adopted by the department, an enterprise or a consumer lender is not required to obtain a separate license when doing business under an assumed name or a trade name if the enterprise or consumer lender notifies the department in writing, on a form prescribed by the director, before using the assumed name or trade name.
B. A licensee may not use an assumed name or trade name that either:
- 1. Is so substantially similar to the assumed name or trade name of another department licensee that it may cause uncertainty or confusion among the public.
- 2. Tends to deceive or mislead the public as to the nature of business that the licensee conducts.
C. An individual may not use an assumed name or a trade name if the individual is licensed, certified or registered pursuant to either:
- 1. Chapter 9, article 4 of this title.
- 2. Title 32, chapter 36, article 2 or 4.
- D. A person using an assumed name or a trade name shall notify the director within fifteen days after any material change to the information provided in subsection A of this section.
- E. For the purposes of this section, "consumer lender" has the same meaning prescribed in section 6-601.