(1) The initial
registration, or a renewal of registration, for a person engaging in debt
adjusting pursuant to KRS Chapter 380 shall be made on the "Commonwealth of
Kentucky Debt Adjuster Registration Statement". Each person engaging in debt
adjusting shall register by:
(a) Completing
the information required by the registration form and submitting:
1. The legal name of the
registrant;
2. Whether the
registration is an initial or renewal registration;
3. The registrant's contact person, including
name, title, telephone number, fax number, and, optionally, e-mail
address;
4. Other names under which
the registrant conducts business, and provide copies of all filings in Kentucky
regarding the use of an assumed name or names;
5. The registrant's principal physical
business location, which shall not be a post office box, including street
address, city, state, and zip code;
6. The registrant's mailing address if
different from the principal physical business location, including address,
city, state, and zip code;
7. The
registrant's telephone number;
8.
The registrant's fax number;
9. The
registrant's Web site;
10. The
registrant's agent for service of process in Kentucky, including name, address,
city, state, and zip code;
11. The
location where the registrant keeps or maintains records of its customers who
reside in Kentucky if different from the principal physical business location,
including address, city, state, and zip code;
12. The registrant's type of business
structure, indicating whether it is a corporation, limited liability company,
general partnership or joint venture, limited partnership, natural person, or
other type of structure and describing such other type, the state under the
laws of which the business structure was formed, and including a copy of
registrant's certificate of authority to transact business in the Commonwealth
of Kentucky issued by the Kentucky Secretary of State or other evidence of
authority to transact business in the Commonwealth of Kentucky and describing
this other evidence;
13. A
description of the debt adjusting services the registrant will offer, sell or
provide to Kentucky residents, and identifying whether the registrant engages
in debt adjusting in relation to any debt that is primarily for personal,
family, or household use that is secured by a mortgage, deed of trust, other
equivalent consensual security interest on residential real property, or
collateral that has a mortgage lien interest in residential real
property;
14. The registrant's fee
schedule, indicating the amount of the fee for initial set-up, the amount of
the consultation fee, the amount and frequency of the service fee or other
periodic fee, the amount of the bad check charge, and the amount and frequency
of any other fee or fees and describing these other fee or fees;
15. The registrant's officers, directors,
trustees, general partners, and sole proprietor, as applicable, and any person
having management responsibilities in the registrant's business activities,
including name, address, telephone number, title or position held, and
percentage of ownership interest;
16. The financial institution in which the
registrant will maintain a trust account into which Kentucky consumer funds
will be deposited and withdrawn to pay respective creditors, including the
name, address, city, state, zip code, telephone number, and fax
number;
17. A sample of each type
of contract or agreement for the registrant's debt adjuster services with
Kentucky residents;
18. The
aggregate amount of all deposits made with the registrant by all debtors in
each of the six (6) months preceding the filing of this registration;
19. The aggregate amount of all deposits made
with the registrant by all Kentucky residents in each of the twelve (12) months
preceding the filing of this registration;
20. Information regarding each applicable
insurance policy, including policy number, the name of the insurer that issued
the policy, whether the division is named as an additional interested party,
whether the insurance policy covers errors and omissions, employee dishonesty,
depositor's forgery, computer fraud, or violations of KRS Chapter 380, the
policy amount, the deductible amount, the insurer's rating and the rating
organization, and including a complete copy of the insurance policy and
declarations or, if a complete copy of the insurance policy and declarations
was previously provided to the division, a copy of the current declarations or
certificate of coverage applicable to the policy;
21. A completed Debt Adjuster Bond, or, in
lieu thereof, a completed Debt Adjuster Irrevocable Letter of Credit;
22. A list of each state in which the
registrant is registered or licensed to provide debt adjuster services and the
time of filing the registration;
23. The signature and oath of the registrant,
using the following oath: "I hereby swear or affirm that I am an authorized
representative of the registrant set forth above, and that the statements
contained herein and attachments hereto are true and correct", and including
the printed name and title of the person signing the oath;
24. A completed notarization of the signature
and oath of the registrant, including the seal of the notary public;
(b) Filing the original of the
registration form and accompanying documentation with the Office of the
Attorney General, Consumer Protection Division, 1024 Capital Center Drive,
Suite 200, Frankfort, Kentucky 40601; and
(c) Paying the fee required by
KRS
380.040(5).