Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-05 - Division of Regulatory Boards
Chapter 0780-05-18 - Debt Management Services
Section 0780-05-18-.15 - ACCREDITATION

Universal Citation: TN Comp Rules and Regs 0780-05-18-.15

Current through September 24, 2024

(1) An accreditation from the Council on Accreditation shall meet the requirements of T.C.A. § 47-18-5506(8).

(2) Notwithstanding the previous paragraph, the Director may approve an independent accrediting organization if the Director finds, based on the totality of the information provided, that the independent accrediting organization provides accreditation that is substantially equivalent to the accreditation provided by the Council on Accreditation. Approval by the Director shall be valid for a period of two (2) years from the date of approval, at which time the independent accrediting organization shall make a new request for approval. An independent accrediting organization shall provide the following information on a form approved by the Director in its request for approval:

(a) The name of the independent accrediting organization;

(b) The phone number, mailing address and e-mail address-if applicable-of the independent accrediting organization;

(c) A list of other states that have approved the independent accrediting organization to provide accreditation of debt management companies or similar organizations;

(d) The number of years that the independent accrediting organization has offered accreditation for debt management companies or similar organizations;

(e) A complete list of the standards that accredited companies must meet; and

(f) Such other information as the Director may request in order to determine that the independent accrediting organization is substantially equivalent to the accreditation provided by the Council on Accreditation.

(3) Notwithstanding any language in this rule to the contrary, any debt management service currently registered with the Division on July 1, 2016, shall have until January 1, 2018, to become accredited in compliance with this rule.

Authority: T.C.A. §§ 47-18-5506 and 47-18-5532.

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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