§ 13-21-3.5. Registration and suspension of registration.

(1) A credit services organization shall file an application for registration with the division before engaging in any activity regulated by this chapter. The application shall include:

(a) the name, complete address, and telephone number of the organization;

(b) the name of any person who owns or controls more than 5% of the organization, either directly or through another person or entity;

(c) the name of any individual who is responsible for the day-to-day operation of the organization;

(d)

(i) the case title, docket number, the names and addresses of all parties, and a detailed explanation of any administrative, civil, or criminal action in which the organization or any person identified in Subsection (1)(b) or (c) is a party to an administrative, civil, or criminal action that arose in this state or any other jurisdiction involving the offer to provide or the provision of services described in Section 13-21-2(3)(a); or

(ii) a notarized statement of the credit services organization's chief executive officer or principal that neither the organization nor any person identified in Subsection (1)(b) or (c) is a party to any administrative, civil, or criminal action described in Subsection (1)(d)(i);

(e) a detailed outline of the organization's credit services program to be offered in this state, including two copies of any contract, form, sales literature, or other relevant document that will be used by the organization; and

(f) a reasonable registration fee to be determined by the division.

(2) The division may deny, suspend, or revoke a registration under this chapter if:

(a) a credit services organization has engaged, or is engaging in a violation of this chapter; or

(b) a person described in Subsection (1)(b) or (c) has been found in an administrative, civil, or criminal action in any jurisdiction to have violated a law relating to the offer to provide or provision of the types of services described in Subsection 13-21-2(3)(a).

Enacted by Chapter 186, 1994 General Session