STATE OF NEW HAMPSHIRE

BANKING DEPARTMENT

IN THE MATTER OF: Auto City Sales Inc.

CONSENT ORDER

The State of New Hampshire Banking Department (the "Department") and Auto City Sales Inc. (the "Respondent") agree to resolve the matters described herein as follows.

WHEREAS, pursuant to RSA chapter 361-A, the Department licenses and supervises persons engaged in the business of a retail seller.

WHEREAS, the Respondent has been licensed by the Department as a retail seller since 2006.

WHEREAS, the National Multistate Licensing System and Registry (NMLS) is a national licensing system and facility for the licensing and registration of various non-depository financial services licensees, including retail sellers;

WHEREAS, pursuant to N.H. Laws 2021, 194:2-3, the New Hampshire Legislature amended RSA chapter 361-A to require all retail sellers to license and report through NMLS;

WHEREAS, between September 13, 2021 and the present, the Department engaged in various outreach efforts to remind all retail seller licensees of the requirement to transition and renew their licenses for calendar year 2023 through NMLS in order to stay in compliance with RSA chapter 361-A;

WHEREAS, pursuant to RSA 361-A:2, a retail seller's failure to renew its license through NMLS on or before December 31, 2022 will result in the license terminating on December 31, 2022;

WHEREAS, in order to transition its license to NMLS, the Respondent must first obtain from the United States Internal Revenue Service a "147c letter" to confirm the Respondent's employer identification number;

WHEREAS, the Respondent has undertaken reasonable and diligent efforts to obtain a "147c letter" from the United States Internal Revenue Service, but has not yet received the "147c letter" as of the date this Consent Order was signed by the Respondent, and as a consequence will be unable to transition and renew its license through NMLS on or before December 31, 2022;

WHEREAS, the Respondent has submitted to the Department an Attestation for Retail Seller Renewal Application for 2023 and has paid the required application fee to the Department;

WHEREAS, the Respondent agrees and acknowledges the following: (1) the undersigned representative of the Respondent has full authority to enter into and bind the Respondent to the terms and conditions of this Consent Order; (2) the Respondent represents and warrants that it has all the necessary rights, powers, and abilities to carry out the terms of this Consent Order; (3) no provision of this Consent Order is subject to rehearing or judicial review or appeal; (4) this Consent Order is binding upon all heirs, assigns, and successors in interest of the Respondent; and (5) this Consent Order shall become final upon execution by the Commissioner;

WHEREAS, pursuant to RSA 361-A:5, IV, the Commissioner is authorized to "issue, amend, or rescind such orders as are reasonably necessary to carry out the provisions of [RSA chapter 361-A]"; and

WHEREAS, pursuant to RSA 361-A:5, VI, "[a]ll actions taken by the commissioner pursuant to [RSA chapter 361-A] shall be taken only when the commissioner finds such action necessary or appropriate to the public interest or for the protection of consumers and consistent with the purposes fairly intended by the policy and provisions of [Title XXXIII-A of the Revised Statutes Annotated]."

NOW, THEREFORE, pursuant to the Commissioner's authority under RSA 361-A:5, it is hereby ORDERED that:

A. The Respondent's retail seller license shall be renewed for calendar year 2023.
B. The Respondent shall complete the transition of its retail seller license to NMLS on or before February 10, 2023.
C. The Respondent's failure to complete the transition of its retail seller license to NMLS on or before February 10, 2023 shall result in the termination of the Respondent's retail seller license as of 12:00 a.m. on February 11, 2023.

AGREED:

Paul Blouin
President
Auto City Sales Inc.
Date: 12-30-2022

SO ORDERED.

Emelia A.S. Galdieri
Commissioner
New Hampshire Banking Department
Date: 12/30/2022