50-1118. Same; registration required to conduct credit services organization business; application.
50-1118
50-1118. Same; registration required to conductcredit services organization business; application.(a) No person shall engage in, or hold such person out aswillingto engage in anycredit services organization business with a resident of this state withoutfirst obtainingregistration from the commissioner. Any person required to be registered as acredit servicesorganization shall submit to the commissioner an application for registrationon forms prescribedand provided by the commissioner. The application for registration shallinclude:
(1) The applicant's name, business address, telephone number and websiteaddress, if any;
(2) the name and address of each owner, officer, director, member or partnerof the applicant;
(3) a description of the ownership interest of any officer, director, member,partner, agentor employee of theapplicant in any affiliate or subsidiary of the applicant or in any otherentity that provides anyservice to the applicant or any consumer relating to the applicant's creditservices organizationbusiness;
(4) a description of the applicant's consumer education program; and
(5) any other information the commissioner may deem necessary to evaluate thefinancialresponsibility and condition, character, qualifications and fitness of theapplicant.
(b) Each application for registration shall be accompanied by a nonrefundablefee of $100. The amount of the registration fee may be increased by rules andregulations adopted bythe commissioner.
(c) The application shall be approved and a nontransferable andnon-assignable registration shallbe issued to the applicant provided:
(1) The commissioner has received the complete application and fee requiredby thissection; and
(2) the commissioner determines the financial responsibility and condition,character,qualifications and fitness of the applicant warrants a belief that the businessof the applicant willbe conducted competently, honestly, fairly and in accordance with allapplicable state and federallaws.
(d) Each credit services organization registration issued under thissection shall expire on June 30of each year. A registration shall be renewed by filing with the commissioner,at least 30 daysprior to the expiration of the registration, a complete renewal application,containing informationthe commissioner requires to determine the existence and effect of any materialchanges from theinformation contained in the applicant's original application, annual reportsor prior renewalapplications. Each renewal shall be accompanied by a nonrefundable renewal feewhich shall beestablished by rules and regulations of the commissioner.
(e) If the commissioner fails to issue a registration within 60 days after afiled application isdeemed complete by the commissioner, the applicant may make written request forhearing. Thecommissioner shall conduct a hearing in accordance with the Kansasadministrative procedureact.
History: L. 2004, ch. 22, § 3; July 1.