(1) Registrations
shall expire on the last day of the twenty-fourth
(24th) month following their issuance or renewal and
shall become invalid on such date unless renewed prior to their expiration
date.
(2) Renewal applications must
be received by the Division not less than thirty (30) days or more than sixty
(60) days prior to the expiration of a registration.
(3) A provider choosing not to renew its
registration shall notify the Division of its intention prior to the expiration
date of the registration and shall surrender the registration certificate to
the Division immediately upon its expiration.
(4) Applications for the renewal of
registrations shall be made on forms provided by the Director.
(5) Applications for renewals will not be
considered filed until the applicable fee prescribed in these rules and all
other information required pursuant to the Act and these rules are
received.
(6) Applicants are
responsible for annual renewal whether or not a notice of renewal is received
from the Administrator.
(7) A
provider's application for renewal of its registration shall include at a
minimum:
(a) A complete and properly executed
renewal application form signed by the provider's representative under penalty
of perjury before a notary;
(b) The
applicable non-refundable renewal application fee as provided in Rule
0780-05-18-.09, below;
(c) A surety
bond as required by T.C.A. §
47-18-5513, or an acceptable
surety alternative that complies with the provisions of T.C.A. §
47-18-5514;
(d) Evidence of insurance as required by
T.C.A. §
47-18-5505(b)(4)
in the amount of two hundred and fifty thousand dollars ($250,000);
1. Any insurance policy submitted by a
provider as evidence of insurance required by the Act shall include the
insurer's written agreement to provide the Administrator with written notice of
termination or reduction of the policy, which shall be sent by certified U.S.
mail to the Division.
2. For
purposes of administering the Act, the insurer's termination or reduction of
liability shall be effective from and after the expiration of sixty (60) days
from the Division's receipt of such written notice or on such later date as is
stated in the written notice. The insurer's termination or reduction of
liability shall not affect, reduce, or release its liability for any acts or
practices that occurred during the time the policy was in force and prior to
the effective date of termination or reduction of the policy.
(e) Disclosure of any changes of
information reported in the initial registration application or the immediately
previous renewal application, as applicable;
(f) The applicant's financial statements
prepared in accordance with the provisions of T.C.A. §
47-18-5506(7);
(g) Evidence of the applicant's accreditation
by an independent accrediting organization approved by the Director;
(h) Evidence of certification, by an
independent certifying program approved by the Director, of all counselors and
debt specialists conducting business in this state on behalf of the
applicant;
(i) Sworn criminal
history records checks, including fingerprints, conducted within the
immediately preceding twelve (12) months for the purpose of providing
debt-management services, for every officer of the applicant and every employee
or agent who is authorized to have access to the applicant's trust account(s).
The criminal history records check must be submitted directly to the Division
by the criminal history check provider. Applicants that have had a criminal
records check performed for the purpose of registration as a provider in
another state within twelve (12) months prior to submitting the registration
application may have the results of that background check submitted directly
from the other state to the Division as a certified business record of the
other state;
(j) Disclosure of the
total amount of money received by the applicant from or on behalf of Tennessee
consumers pursuant to debt-management services agreements and plans during the
preceding twelve (12) month period and the total amount of money distributed to
creditors of those Tennessee consumers during the same twelve (12) month
period;
(k) Disclosure of the gross
amount accumulated during the preceding twelve (12) month period pursuant to
debt-management services plans by or on behalf of Tennessee consumers with whom
the applicant has debt-management services agreements; and
(l) Any other information required to
determine whether the application should be approved or denied.
(8) An applicant shall notify the
Division within ten (10) days after a change occurs in any of the information
originally reported in the renewal application.
