Section 0780-05-18-.08 - RENEWAL OF REGISTRATION(1) Registrations shall expire on the last day of the twenty-fourth (24th) month following their issuance or renewal and shall become invalid on such date unless renewed prior to their expiration date.(2) Renewal applications must be received by the Division not less than thirty (30) days or more than sixty (60) days prior to the expiration of a registration.(3) A provider choosing not to renew its registration shall notify the Division of its intention prior to the expiration date of the registration and shall surrender the registration certificate to the Division immediately upon its expiration.(4) Applications for the renewal of registrations shall be made on forms provided by the Director.(5) Applications for renewals will not be considered filed until the applicable fee prescribed in these rules and all other information required pursuant to the Act and these rules are received.(6) Applicants are responsible for annual renewal whether or not a notice of renewal is received from the Administrator.(7) A provider's application for renewal of its registration shall include at a minimum: (a) A complete and properly executed renewal application form signed by the provider's representative under penalty of perjury before a notary;(b) The applicable non-refundable renewal application fee as provided in Rule 0780-05-18-.09, below;(c) A surety bond as required by T.C.A. § 47-18-5513, or an acceptable surety alternative that complies with the provisions of T.C.A. § 47-18-5514;(d) Evidence of insurance as required by T.C.A. § 47-18-5505(b)(4) in the amount of two hundred and fifty thousand dollars ($250,000); 1. Any insurance policy submitted by a provider as evidence of insurance required by the Act shall include the insurer's written agreement to provide the Administrator with written notice of termination or reduction of the policy, which shall be sent by certified U.S. mail to the Division.2. For purposes of administering the Act, the insurer's termination or reduction of liability shall be effective from and after the expiration of sixty (60) days from the Division's receipt of such written notice or on such later date as is stated in the written notice. The insurer's termination or reduction of liability shall not affect, reduce, or release its liability for any acts or practices that occurred during the time the policy was in force and prior to the effective date of termination or reduction of the policy.(e) Disclosure of any changes of information reported in the initial registration application or the immediately previous renewal application, as applicable;(f) The applicant's financial statements prepared in accordance with the provisions of T.C.A. § 47-18-5506(7);(g) Evidence of the applicant's accreditation by an independent accrediting organization approved by the Director;(h) Evidence of certification, by an independent certifying program approved by the Director, of all counselors and debt specialists conducting business in this state on behalf of the applicant;(i) Sworn criminal history records checks, including fingerprints, conducted within the immediately preceding twelve (12) months for the purpose of providing debt-management services, for every officer of the applicant and every employee or agent who is authorized to have access to the applicant's trust account(s). The criminal history records check must be submitted directly to the Division by the criminal history check provider. Applicants that have had a criminal records check performed for the purpose of registration as a provider in another state within twelve (12) months prior to submitting the registration application may have the results of that background check submitted directly from the other state to the Division as a certified business record of the other state;(j) Disclosure of the total amount of money received by the applicant from or on behalf of Tennessee consumers pursuant to debt-management services agreements and plans during the preceding twelve (12) month period and the total amount of money distributed to creditors of those Tennessee consumers during the same twelve (12) month period;(k) Disclosure of the gross amount accumulated during the preceding twelve (12) month period pursuant to debt-management services plans by or on behalf of Tennessee consumers with whom the applicant has debt-management services agreements; and(l) Any other information required to determine whether the application should be approved or denied.(8) An applicant shall notify the Division within ten (10) days after a change occurs in any of the information originally reported in the renewal application.Tenn. Comp. R. & Regs. 0780-05-18-.08
Original rule filed October 28, 2016; effective 1/26/2017. Rule renumbered from 0780-08-01.Authority: T.C.A. §§ 47-18-5504, 47-18-5506, 47-18-5511, 47-18-5513, 47-18-5514, and 47-18-5532.