(A) A person required to be licensed as a credit counseling organization must submit to the department an application for a license on forms prescribed by the department. The applicant shall file an application with the department in writing, under oath:
(1) the name and address of each owner, officer, director, member, or partner of the applicant;
(2) a description of the ownership interest of any officer, director, member, partner, agent, or employee of the applicant in the affiliate or subsidiary of the applicant or in another entity that provides a service to the applicant or a consumer relating to the applicant's credit counseling organization;
(3) a description of the applicant's consumer education program;
(4) financial statements for the applicant as of the most recent fiscal year;
(5) a current copy of the applicant's standard debt management plan;
(6) the surety bond required in Section 37-7-103;
(7) consent to a criminal records check; and
(8) a list of all employees engaged in credit counseling services.
(B) Each application for a license as a credit counseling organization must be accompanied by a nonrefundable fee of one hundred dollars for each business location, an investigation fee of fifty dollars, and the actual cost of obtaining criminal history record checks.
(C)(1) The application for a license as a credit counselor must include:
(a) the name and address of the applicant;
(b) the name of the employer credit counseling organization;
(c) consent to a criminal records check; and
(d) description of the applicant's general fitness and character.
(2) The nonrefundable fee for an application for licensing as a credit counselor is forty dollars in addition to the actual cost of obtaining criminal history checks.
HISTORY: 2005 Act No. 111, Section 1, eff 6 month after approval by the Governor (became law without the Governor's signature on June 2, 2005).
Structure South Carolina Code of Laws
Title 37 - Consumer Protection Code
Chapter 7 - Consumer Credit Counseling
Section 37-7-101. Definitions.
Section 37-7-102. Licensing requirement.
Section 37-7-103. Surety bonds.
Section 37-7-105. Continuing professional education requirements.
Section 37-7-106. Grounds for refusal to license, suspension, revocation or refusal to renew.
Section 37-7-107. Issuance or denial of license; contents and posting; renewal.
Section 37-7-110. Written contract; contents; required disclosures; cancellation of plan.
Section 37-7-113. Individualized counseling and education session.
Section 37-7-114. Records; maintenance and preservation.
Section 37-7-115. Annual reports; occurrences triggering other reports.
Section 37-7-116. Prohibited acts.
Section 37-7-117. Violations and penalties; civil action by consumer; limitations.
Section 37-7-118. Violation of Unfair Trade Practices Act.