2023 Delaware Code › Title 6 - Commerce and Trade › Chapter 24A. DEBT-MANAGEMENT SERVICES › § 2411A. Renewal of licenses.

§ 2411A. Renewal of licenses.
(a) A provider must obtain a renewal of its license annually.
(b) An application for renewal of a provider license must be in a form prescribed by the Attorney General signed under oath, and:
(1) Be filed no fewer than 30 and no more than 60 days before the license expires;
(2) Be accompanied by (i) a nonrefundable fee of $1,000, which shall be deposited in the State Treasury to the credit of the State Consumer Protection Fund created under § 2527 of this title, and (ii) the bond required by § 2413A of this title.
(3) Contain the matter required for initial licensing as a provider by § 2406A(9) and (10) of this title and a financial statement, audited by an accountant licensed to conduct audits, for the applicant's fiscal year immediately preceding the application;
(4) Disclose any changes in the information contained in the applicant's application for licensing or its immediately previous application for renewal, as applicable;
(5) Supply evidence of insurance in an amount equal to the larger of $250,000 or the highest daily balance in the trust account required by § 2422A of this title during the 6-month period immediately preceding the application;
(A) Against 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 no greater than a $5,000 deductible; and
(D) Naming the Attorney General as an additional interested party to receive notice upon cancellation of the policy.
(E) [Repealed.]
(6) If a provider holds money on behalf of a debtor to pay creditors, the provider shall disclose the total amount of money received by the applicant pursuant to plans during the preceding 12 months from or on behalf of individuals who reside in this State and the total amount of money distributed to creditors of those individuals during that period;
(7) Disclose, to the best of the applicant's knowledge, the gross amount of money accumulated during the preceding 12 months pursuant to plans by or on behalf of individuals who reside in this State and with whom the applicant has agreements; and
(8) Provide any other information that the Attorney General reasonably requires to perform the Attorney General's duties under this chapter.
(c) Except for the information required by § 2406A(8), (15), and (18) of this title and the addresses required by § 2406A(5) of this title, the Attorney General shall make the information in an application for renewal of a provider license available to the public.
(d) If a licensed provider files a timely and complete application for renewal of its license, the license remains effective until the Attorney General, in a record, notifies the applicant of a denial and states the reasons for the denial.
(e) If the Attorney General makes a preliminary determination to deny an application for the renewal of a provider license, the applicant may file a request for a hearing with the Attorney General pursuant to subchapter IV of the Delaware Administrative Procedures Act, Chapter 101 of Title 29. The Attorney General's preliminary determination may become a final decision if such a request is not timely filed.
(f) Subject to § 2434A of this title, while the final decision is pending, the applicant shall continue to provide debt-management services to individuals with whom it has agreements. If the Attorney General's final decision is to deny the application, subject to the Attorney General's order and § 2434A of this title, the applicant shall continue to provide debt-management services to individuals with whom it has agreements until, with the Attorney General's approval, it transfers the agreements to another licensed provider or returns to the individuals all unexpended money that is under the applicant's control.
75 Del. Laws, c. 430, §  1;  76 Del. Laws, c. 146, §§  2-4;