Current through September 24, 2024
(1) An applicant or
registrant shall inform the Division in writing of any change in business name
or business structure at least ten (10) days before the change occurs.
Registrations are non-transferable.
(2) An applicant or registrant shall inform
the Division in writing within thirty (30) days of receipt of notice and
provide a copy of:
(a) Any indictment or
information filed in any court of competent jurisdiction naming the applicant
or registrant, any affiliate, partner, officer, director, owner, or agent of
the applicant or registrant, or any person occupying a similar status with or
performing similar functions for the applicant or registrant, alleging the
commission of any felony regardless of subject matter, or of any misdemeanor
involving a security or any aspect of the debt-management services
business;
(b) Any complaint filed
in any court of competent jurisdiction naming the applicant or registrant, any
affiliate, partner, officer, director, owner, or agent, or any person occupying
a similar status with or performing similar functions for the applicant or
registrant, seeking a permanent or temporary injunction enjoining any of such
person's conduct or practice involving any aspect of the debt-management
services business;
(c) Any
complaint or order filed by a federal or state regulatory agency or the United
States Postal Service naming the applicant or registrant, any affiliate,
partner, officer, director, owner or agent, or any person occupying a similar
status with or performing a similar function for the applicant or registrant,
related to the debt-management services business.
(3) Within ten (10) days of filing, an
applicant or registrant shall file with the Division a copy of any answer,
response, or reply to any complaint, indictment, or information described in
subparts (2)(a) through (2)(c) above.
(4) Within ten (10) days of receipt, an
applicant or registrant shall file with the Division a copy of any decision,
order, or sanction that is made, entered, or imposed with respect to any
proceedings described in subparts (2)(a) through (2)(c) above.
(5) Nothing in paragraphs (2), (3), or (4) is
intended to relieve the applicant or registrant from any duty to comply with
the legal process or any reporting requirements elsewhere specified in these
rules or in the Act.
(6) Trust
Accounts
(a) An applicant or registrant shall
file with the Division a notice of any relocation of trust accounts from one
bank to another bank thirty (30) days prior to the date on which the relocation
of the trust accounts becomes effective.
(b) In the event of the relocation of trust
accounts from one bank to another, the applicant or registrant shall provide
the new trust account numbers to the Division no later than two (2) days after
receiving the new trust account numbers.
(c) An applicant or registrant shall notify
the Division of a theft from a trust account within five (5) days of discovery
of the theft.
Authority: T.C.A. §§
47-18-5507,
47-18-5522,
47-18-5529, and
47-18-5532.
