An application for registration must be signed under oath and include:

(1) 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;

Terms Used In Tennessee Code 47-18-5506

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Person: means a natural person, consumer, individual, governmental agency, partnership, corporation, trust, estate, incorporated or unincorporated association, and any other legal or commercial entity however organized. See Tennessee Code 47-18-2102
  • signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2) All names under which the applicant conducts business;
(3) 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;
(4) 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;
(5) Identification of every jurisdiction in which, during the five (5) years immediately preceding the application:

(A) The applicant or any of its officers or directors has been licensed or registered to provide debt-management services; or
(B) Individuals have resided when they received debt-management services from the applicant;
(6) 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;
(7) 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;
(8) Evidence of accreditation or certification by an independent accrediting or certifying organization approved by the administrator;
(9) 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;
(10) 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;
(11) 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;
(12) A copy of each form of agreement that the applicant will use with individuals who reside in this state;
(13) The schedule of fees and charges that the applicant will use with individuals who reside in this state;
(14)

(A) 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, employee, or agent of the applicant who is authorized to have access to the trust account required by § 47-18-5522;
(B) 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;
(C) 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;
(15) The names and addresses of all employers of each director during the ten (10) years immediately preceding the application;
(16) A description of any ownership interest of at least ten percent (10%) by a director, owner or employee of the applicant in:

(A) Any affiliate of the applicant; or
(B) Any entity that provides products or services to the applicant or any individual relating to the applicant’s debt-management services;
(17) 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;
(18) 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
(19) Any other information that the administrator reasonably requires to perform the administrator’s duties under § 47-18-5509.
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