§ 5-19-211 — Renewal of registration

(a) A provider shall obtain a renewal of its
registration annually before the expiration date of the registration to be renewed,
as specified in this section.

(b) An application for renewal of registration as a provider shall be in a form
prescribed by the administrator, signed under penalty of false statement, and:

(1) Be filed before the registration expires;

(2) Be accompanied by the fee established by the administrator and the bond
required by section 5-19-213;

(3) Contain a financial statement, reviewed by an accountant licensed to
conduct audits, for the applicant's fiscal year immediately preceding the
application; except that the third renewal after initial registration and every fourth
renewal thereafter shall be audited rather than reviewed;

(4) Disclose any changes in the information contained in the applicant's
application for registration or its immediately previous application for renewal, as
applicable;

(5) Disclose the total amount of money received by the applicant pursuant to
plans during the preceding twelve months from or on behalf of individuals who
reside in this state and the total amount of money distributed to creditors of those
individuals during that period;

(6) If the applicant does not hold money on behalf of any debtor, disclose for
business done with debtors in the state of Colorado during the preceding twelve
months, the number of debtors with whom the applicant has had agreements, the
number of fully settled debt agreements with creditors that applicant concluded
for debtors, and an estimate of the total amount of debt under contract between
applicant and debtors; and

(7) Provide any other information that the administrator reasonably requires
to perform the administrator's duties under this section.

(c) Except for the information required by section 5-19-206 (7), (9), (12), (13),
and (15) and the addresses required by section 5-19-206 (4), the administrator shall
make the information in an application for renewal of registration as a provider
available to the public.

(d) If a registered provider files a timely and complete application for
renewal of registration, the registration remains effective until the administrator, in
a record, notifies the applicant of a denial and states the reasons for the denial.

(e) If the administrator denies an application for renewal of registration as a
provider, the applicant, within thirty days after receiving notice of the denial, may
appeal and request a hearing pursuant to article 4 of title 24. Subject to section 5-19-234, while the appeal is pending, the applicant shall continue to provide debt-management services to individuals with whom it has agreements. If the denial is
affirmed, subject to the administrator's order and section 5-19-234, the applicant
shall continue to provide debt-management services to individuals with whom it has
agreements until, with the approval of the administrator, it transfers the
agreements to another registered provider or returns to the individuals all
unexpended money that is under the applicant's control.

(f) If a registered provider fails to file by July 1 a complete application for
renewal of registration and the required renewal fee, the registration shall
automatically expire on that date.

Legislative History

Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1145, � 4, effective August 9.