§ 19-14.8-11. Renewal of registration.
(a) A provider must obtain a renewal of its registration annually.
(b) An application for renewal of registration as a provider must be in a form prescribed
by the director, signed under oath or certified under the penalties of perjury, and:
(1) Be filed in accordance with § 19-14-22;
(2) Be accompanied by the fee established by chapter 14 of this title and the bond required
by this chapter;
(3) Contain the matter required for initial registration as a provider by this chapter
and a financial statement, audited by an accountant licensed to conduct audits, for
the applicant's fiscal year immediately preceding the application;
(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) Supply evidence of insurance in an amount equal to the larger of two hundred fifty
thousand dollars ($250,000) or the highest daily balance in the trust account required
by this chapter during the six-month (6) period immediately preceding the application:
(A) Against risks of dishonesty, fraud, theft, and other misconduct on the part of the
applicant or a director, employee, or agent of the applicant;
(B) Issued by an insurance company authorized to do business in this state and rated at
least "A� by a nationally recognized rating organization;
(C) With a deductible of not more than ten thousand dollars ($10,000);
(D) Payable to the applicant, the individuals who have agreements with the applicant,
and this state, as their interests may appear; and
(E) Not subject to cancellation by the applicant without the approval of the director;
(6) Disclose the total amount of money received by the applicant pursuant to plans during
the preceding twelve (12) 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;
(7) Disclose, to the best of the applicant's knowledge, the gross amount of money accumulated
during the preceding twelve (12) months pursuant to plans by, or on behalf of, individuals
who reside in this state and with whom the applicant has agreements; and
(8) Provide any other information that the director reasonably requires to perform the
director's duties under this section.
(c) Except for the information required by § 19-14.8-6(7), (14), and (17) and the addresses required by § 19-14.8-6(4), the director 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 director, in a record, notifies the applicant
of a denial and states the reasons for the denial.
(e) If the director denies an application for renewal of registration as a provider, the
applicant, within ten (10) days after receiving notice of the denial, may appeal and
request a hearing pursuant to chapter 35 of title 42. Subject to § 19-14.8-34, 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 director's order and § 19-14.8-34, the applicant shall continue to provide debt-management services to individuals
with whom it has agreements until, with the approval of the director, it transfers
the agreements to another registered provider or returns to the individuals all unexpended
money that is under the applicant's control.