D.C. Mun. Regs. tit. 16, r. 16-102

Current through Register 71, No. 45, November 7, 2024

Rule 16-102 - REGISTRATION OF RETAIL SELLERS AND FINANCE COMPANIES

102.1

Any person who is a retail seller or a sales finance company shall register with the Department of Consumer and Regulatory Affairs (Department) as provided in this section.

102.2

Any person not registered, whose registration has been denied or suspended, or who has been deregistered as provided in this section shall not engage in business as a "retail seller" or as a "sales finance company."

102.3

Each person required to be registered shall furnish to the Department the registration information required on a form prescribed by the Department. The form shall require that the registrant provide the following information:

(a) Name of the person (registrant);

(b) Name under which business is transacted, if different from subparagraph (a);

(c) The names and addresses of the principal officers, if a corporation; if a partnership, the name and address of each partner;

(d) The address of the principal office, whether or not it is located inside the District;

(e) The addresses of all offices or retail stores, if any, in the District at which retail installment transactions are made, or in the case of a person taking assignments of obligations, the offices or places of business within the District at which that business is transacted;

(f) The names and home addresses of the persons who hold or own twenty-five percent (25%) or more of the interest in the person, firm, or organization engaged in retail installment transactions;

(g) The identity of all parent and subsidiary companies and companies under common ownership with the registrant which engage in retail installment transactions or sales financing in the District;

(h) If retail installment transactions are made otherwise than at an office or retail store in the District, a brief description of the manner in which they are made; and

(i) The name and address of the attorney-in-fact or general agent upon whom service of process may be made in the District.

102.4

At the same time that the information is furnished under § 102.3, each person required to be registered shall submit to the Department a copy of the retail installment contract forms used by the registrant at the time of submission in connection with transactions covered by this chapter.

102.5

Each registration form shall be signed by the registrant or a principal officer of a registrant organization.

102.6

If any information submitted pursuant to this section becomes inaccurate, the registrant shall furnish the accurate information to the Department within twenty (20) calendar days thereafter, except as otherwise provided in § 103.

102.7

No person whose registration has been suspended pursuant to the provisions of this chapter shall be re-registered other than in accordance with the terms of the order of suspension.

102.8

No corporation or partnership shall be registered if a deregistration order is then outstanding against any individual who is an officer of the corporation, a partner in the partnership, or any individual who holds or owns twenty- five percent (25%) or more interest in the registrant.

102.9

After a registration form has been submitted, the Department shall return a duplicate copy to the registrant which shall be validated by the Department to evidence the registrant's registration.

102.10

The validated form shall contain a registration number furnished by the Department.

102.11

The registration or a photocopy of the registration shall be posted and visible in a conspicuous place in each place of business in the District maintained by the registrant.

102.12

If a registrant transacts business through door-to-door solicitation, the registrant shall provide, upon request, a copy of the validated registration form at the time a solicitation is made.

102.13

Each registrant shall re-register every two (2) years beginning on the date stated in the validated copy of the registration form returned to the registrant by the Department under § 102.9.

102.14

Re-registration shall comply with the requirements of §§ 102.3 through 102.6, except that the information and materials required to be furnished shall be submitted to the Department no later than sixty (60) days before the expiration date of the registration.

D.C. Mun. Regs. tit. 16, r. 16-102