Applications
If you have specific legal questions, please seek the advice of an attorney.
As part of the transition to the NMLS portal, beginning on May 1, 2026, new applicants looking to apply for a Motor Vehicle Sales Finance license are required to apply through NMLS as ALECS is no longer available for new applications. (If you are already licensed, please see the Existing MVSF License Holders section below.)
If you don’t have an NMLS account, start by obtaining IRS documents that exactly match your entity name and FEIN; then click here for an NMLS quick tips resource to set up your account. If you need help with creating your account, contact the NMLS call center at 1-855-665-7123. For details on the transition process for existing licensees, see the Existing OCCC CAB Licensees section below.
NMLS Call Center
How to Apply:
Businesses applying for a Motor Vehicle Sales Finance (MV) license must submit their application through NMLS. Non NMLS account holder applicants must first create an NMLS account, while businesses with an existing NMLS account should apply through the NMLS account for that entity.
In ALECS, each first license under one entity MV license was issued as a licensed location and subsequent licenses under the same one entity were considered Registered Offices. In NMLS, the first MV license is issued as a Company License, and any additional locations under that one entity are issued as branch licenses. A company license is required before any branch licenses may be issued.
Refer to the links below for new application checklists:
MV COMPANY License Checklist | MV BRANCH License Checklist
Additional Locations & Trade Names (OTNs)
If your business operates more than one location, each additional location must be licensed as a Branch Location. You must first hold an approved Company License before applying for any branch licenses.
If you use names other than your legal company name, these are now classified as Other Trade Names (OTNs) (previously referred to as DBAs or assumed name).
Please note:
- Your first trade name at the company or branch level does not require a separate license.
- Any additional trade name requires an OTN license.
- If multiple branches use the same additional trade name, each branch must apply for its own OTN–Branch License, even if the name is identical.
If you are unsure if you require an OTN license, please reference the checklist for the industry you are seeking to be licensed in.
Existing Motor Vehicle Sales Finance License Holders
As part of the upcoming migration from ALECS to the NMLS portal, licensees are encouraged to remain attentive to email communications. All transition‑related updates, instructions, and guidance will be distributed via email as the process progresses. Please ensure your contact information in ALECS (Manage Profile Section) is current and continue to monitor your inbox, as transition applications are currently expected to be available this summer, 2026.
Transfer Existing License Application:
Please note that the license transfer process has recently changed, though the item requirements remain the same. Beginning May 1, 2026, businesses needing to transfer a Motor Vehicle Sales Finance license must apply for a new license online through NMLS.
During the new application submission, please upload a copy of the asset purchase agreement signed by both the buyer and the seller, or any other documentation that demonstrates the transfer event to the MU1 Document Upload section of NMLS. Name your files TX Proof of Transfer as of 2025-10-14 (Date of the document) and upload it to the Additional Requirement(s) section of the MU1. Click here for an NMLS Document Upload guide.
If the seller has authorized you to operate under their license while your application is in review, you must complete and upload the “Request for Permission to Operate” form. Name your files TX Permission to Operate as of 2025-10-14 (Date of the document) and upload it to the Document Uploads Additional Requirement(s) section of the MU1. This form is available at the following link:
Forms:
Renewal Dates
Beginning in 2026, the renewal period for CM licenses is as follows:
November 01 – Renewal Opens
December 31- Renewal Closes
****Licenses not renewed by midnight will Expire***
January 1 – Reinstatement* period opens
*Licenses that are not renewed by December 31 may be reinstated* until February 28 at 11:59 p.m. Licenses not reinstated by this deadline will be designated Terminated Failed-To Renew.
*Reinstatement – $1,000 late filing fee + the renewal fee for each license you are reinstating in addition to any NMLS processing fees.
Annual Reports
Annual Report – due June 30