Rhode Island General Laws
Chapter 19-14.8 - Uniform Debt-Management Services Act
Section 19-14.8-5. - Application for registration — Form, fee and accompanying documents.

§ 19-14.8-5. Application for registration — Form, fee and accompanying documents.
(a) An application for registration as a provider must be in a form prescribed by the director.
(b) Subject to adjustment of dollar amounts pursuant to § 19-14.8-32(f), an application for registration as a provider must be accompanied by:
(1) The fee established by chapter 14 of this title;
(2) The bond required by § 19-14.8-13;
(3) Identification of all trust accounts required by § 19-14.8-22 and an irrevocable consent authorizing the director to review and examine the trust accounts;
(4) Evidence of insurance in the amount of two hundred fifty thousand dollars ($250,000):
(A) Against the risks of dishonesty, fraud, theft, and other misconduct on the part of the applicant or a director, employee, or agent of the applicant;
(B) Issued by an insurance company authorized to do business in this state and rated at least “A” by a nationally recognized rating organization;
(C) With a deductible of not more than ten thousand dollars ($10,000);
(D) Payable to the applicant, the individuals who have agreements with the applicant, and this state, as their interests may appear; and
(E) Not subject to cancellation by the applicant without the approval of the director;
(5) If the applicant is a foreign corporation, proof that the applicant holds a certificate of authority to conduct affairs in this state, as required by chapter 6 of title 7; and
(6) If the applicant is organized as a not-for-profit entity or is exempt from taxation, evidence of not-for-profit and tax-exempt status applicable to the applicant under the Internal Revenue Code, 26 U.S.C. § 501, as amended.
History of Section.P.L. 2006, ch. 243, § 3; P.L. 2006, ch. 291, § 3; P.L. 2014, ch. 106, § 4; P.L. 2014, ch. 125, § 4.

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