47-18-5506 - Application for registration Required information. [Effective July 1, 2010.]
47-18-5506. Application for registration Required information. [Effective July 1, 2010.]
An application for registration must be signed under oath and include:
(1) The applicant's name, principal business address and telephone number, and all other business addresses in this state, electronic-mail addresses and Internet web site addresses;
(2) All names under which the applicant conducts business;
(3) The address of each location in this state at which the applicant will provide debt-management services or a statement that the applicant will have no such location;
(4) The name and home address of each officer and director of the applicant and each person that owns at least ten percent (10%) of the applicant;
(5) Identification of every jurisdiction in which, during the five (5) years immediately preceding the application:
(A) The applicant or any of its officers or directors has been licensed or registered to provide debt-management services; or
(B) Individuals have resided when they received debt-management services from the applicant;
(6) A statement describing, to the extent it is known or should be known by the applicant, any material civil or criminal judgment or litigation and any material administrative or enforcement action by a governmental agency in any jurisdiction against the applicant, any of its officers, directors, owners, or agents, or any person who is authorized to have access to the trust account required by § 47-18-5522;
(7) The applicant's financial statements, reviewed by a licensed accountant, for each of the two (2) years immediately preceding the application or, if it has not been in operation for the two (2) years preceding the application, for the period of its existence. If the applicant claims nonprofit or tax exempt status, or if the applicant's business practices involve holding, accessing or directing the funds of an individual, the financial statements required by this part shall be audited by a licensed accountant;
(8) Evidence of accreditation by an independent accrediting organization approved by the administrator;
(9) Evidence that, within twelve (12) months after initial employment, each of the applicant's counselors becomes certified as a certified counselor or certified debt specialist;
(10) A description of the three (3) most commonly used educational programs that the applicant provides or intends to provide to individuals who reside in this state and a copy of any materials used or to be used in those programs;
(11) A description of the applicant's financial analysis and initial budget plan, including any form or electronic model, used to evaluate the financial condition of individuals;
(12) A copy of each form of agreement that the applicant will use with individuals who reside in this state;
(13) The schedule of fees and charges that the applicant will use with individuals who reside in this state;
(14) At the applicant's expense, the results of a criminal records check, including fingerprints, conducted within the immediately preceding twelve (12) months, covering every officer of the applicant and every employee or agent of the applicant who is authorized to have access to the trust account required by § 47-18-5522;
(15) The names and addresses of all employers of each director during the ten (10) years immediately preceding the application;
(16) A description of any ownership interest of at least ten percent (10%) by a director, owner or employee of the applicant in:
(A) Any affiliate of the applicant; or
(B) Any entity that provides products or services to the applicant or any individual relating to the applicant's debt-management services;
(17) If an applicant claims nonprofit or tax exempt status, or if an applicant's business practices involve holding, accessing or directing the funds of an individual, a statement of the amount of compensation of the applicant's five (5) most highly compensated employees for each of the three (3) years immediately preceding the application or, if the applicant has not been in operation for the three (3) years preceding the application, for the period of the applicant's existence;
(18) The identity of each director who is an affiliate, as defined in § 47-18-5502(2)(A) or (2)(B)(i), (ii), (iv), (v), (vi) or (vii), of the applicant; and
(19) Any other information that the administrator reasonably requires to perform the administrator's duties under § 47-18-5509.
[Acts 2009, ch. 469, § 1.]