Tennessee § 47-18-5506 - Application for registration — Required information.

§ 47-18-5506. Application for registration — Required information.

An application for registration must be signed under oath and include: The applicant's name, principal business address and telephone number, and all other business addresses in this state, electronic-mail addresses and Internet web site addresses; All names under which the applicant conducts business; The address of each location in this state at which the applicant will provide debt-management services or a statement that the applicant will have no such location; The name and home address of each officer and director of the applicant and each person that owns at least ten percent (10%) of the applicant; Identification of every jurisdiction in which, during the five (5) years immediately preceding the application: The applicant or any of its officers or directors has been licensed or registered to provide debt-management services; or Individuals have resided when they received debt-management services from the applicant; A statement describing, to the extent it is known or should be known by the applicant, any material civil or criminal judgment or litigation and any material administrative or enforcement action by a governmental agency in any jurisdiction against the applicant, any of its officers, directors, owners, or agents, or any person who is authorized to have access to the trust account required by § 47-18-5522; The applicant's financial statements, reviewed by a licensed accountant, for each of the two (2) years immediately preceding the application or, if it has not been in operation for the two (2) years preceding the application, for the period of its existence. If the applicant claims nonprofit or tax exempt status, or if the applicant's business practices involve holding, accessing or directing the funds of an individual, the financial statements required by this part shall be audited by a licensed accountant; Evidence of accreditation or certification by an independent accrediting or certifying organization approved by the administrator; Evidence that, within twelve (12) months after initial employment, each of the applicant's counselors becomes certified as a certified counselor or certified debt specialist; A description of the three (3) most commonly used educational programs that the applicant provides or intends to provide to individuals who reside in this state and a copy of any materials used or to be used in those programs; A description of the applicant's financial analysis and initial budget plan, including any form or electronic model, used to evaluate the financial condition of individuals; A copy of each form of agreement that the applicant will use with individuals who reside in this state; The schedule of fees and charges that the applicant will use with individuals who reside in this state; At the applicant's expense, the results of a state and national fingerprint-based criminal history records check conducted by the federal bureau of investigation (FBI) or the Tennessee bureau of investigation (TBI), covering every officer of the applicant and every employee or agent of the applicant who is authorized to have access to the trust account required by § 47-18-5522; The applicant shall obtain electronically-scanned fingerprints placed on standard FBI or TBI applicant cards through a company that has contracted with the state to provide a fingerprinting service; provided, however, that the administrator may allow the applicant to instead provide the administrator with three (3) sets of classifiable fingerprints on standard FBI or TBI applicant cards for processing by the FBI or TBI for good cause; In the event the state no longer contracts with any company to provide an electronic fingerprinting service, the applicant shall submit three (3) classifiable TBI and FBI fingerprint cards to be processed at the applicant's expense; The names and addresses of all employers of each director during the ten (10) years immediately preceding the application; A description of any ownership interest of at least ten percent (10%) by a director, owner or employee of the applicant in: Any affiliate of the applicant; or Any entity that provides products or services to the applicant or any individual relating to the applicant's debt-management services; If an applicant claims nonprofit or tax exempt status, or if an applicant's business practices involve holding, accessing or directing the funds of an individual, a statement of the amount of compensation of the applicant's five (5) most highly compensated employees for each of the three (3) years immediately preceding the application or, if the applicant has not been in operation for the three (3) years preceding the application, for the period of the applicant's existence; The identity of each director who is an affiliate, as defined in § 47-18-5502(2)(A) or (2)(B)(i), (ii), (iv), (v), (vi) or (vii), of the applicant; and Any other information that the administrator reasonably requires to perform the administrator's duties under § 47-18-5509. Acts 2009, ch. 469, § 1; 2011, ch. 156, § 1; 2015, ch. 339, § 24; 2018, ch. 763, § 1. Code Commission Notes. Acts 2009, ch. 469, § 1 purported to enact new part 54, §§ 47-18-5401 — 47-18-5441 ; however, part 54 was previously enacted by Acts 2009, ch. 198, and this part was redesignated as part 55, §§ 47-18-5501 — 47-18-5541 by the code commission. Amendments. The 2015 amendment, in (14), designated the existing first sentence as (A), designated the second sentence as (B) and, in (B), deleted “either” preceding “obtain electronically”; deleted “the” preceding “TBI” three times, substituted “; provided, however, that the administrator may allow the applicant to instead provide” for “or the applicant shall provide” and added “for good cause” to the end; and added (C). The 2018 amendment inserted “or certification” and “or certifying” in (8). Effective Dates. Acts 2015, ch. 339, § 31. July 1, 2015; May 4, 2015, for the purpose of rulemaking. Acts 2018, ch. 763, § 2. April 19, 2018.