13-11-05. Qualifications for license.
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/nd/title-13/chapter-13-11-debt-settlement-providers/13-11-05·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Upon the filing of the application, the approval of the bond, and the payment of the
specified fees, the commissioner may issue a license if the commissioner finds all of
the following:
a. The financial responsibility, experience, character, and general fitness of the
applicant, managers, partners, officers, and directors are such as to command
the confidence of the community and to warrant belief that the business will be
operated fairly, honestly, and efficiently within the purposes of this chapter.
b. The applicant, managers, partners, officers, and directors:
(1)Have not been convicted of a felony;
(2)Have not been convicted of a misdemeanor involving dishonesty or
untrustworthiness; or
(3)Have not been the subject of an adverse finding or adjudication in a license
disciplinary or other administrative proceeding concerning allegations
involving dishonesty or untrustworthiness.
c. The applicant, managers, partners, officers, and directors have not had a record
of having defaulted in the payment of money collected for others, including the
discharge of those debts through bankruptcy proceedings.
d. The applicant or any managers, partners, officers, and directors previously have
not violated any provision of this chapter or any rule adopted by the
commissioner unless the commissioner determines the violation is not material.
e. The applicant has not made any false statement or representation to the
commissioner in applying for a license under this chapter.
2. The commissioner shall deliver a license to the applicant to operate as a
debt-settlement provider in accordance with this chapter at the location specified in the
application. The license remains in full force and effect until it is surrendered by the
debt-settlement provider or revoked by the commissioner as provided in this chapter;
provided, however, that each license expires by its terms on December thirty-first next
following its issuance unless renewed as provided in this chapter. A license may not be
surrendered without the approval of the commissioner.