Mich. Admin. Code R. 451.1222 - Application for license or exemption order; renewal application
Current through Vol. 22-05, April 1, 2022
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Rule 2. (1) The application for license or exemption order shall be on the form prescribed by the bureau.
(2) The application shall be accompanied by the financial statements of the applicant for its last fiscal year and as of a date not more than 45 days prior to the filing.
(3) Financial statements, for the purposes of this rule, shall include a balance sheet and income statement prepared in accordance with generally accepted accounting principles.
(4) Payment of fees shall be made by a check payable to the "State of Michigan."
(5) The original application shall be accompanied by a business history form, 3 affidavits of character, and a fingerprint card for each officer and director of an association or corporation, for each partner if a partnership, and for each proprietor, counselor, and officer manager. A credit report on the firm shall also be submitted.
(6) A firm that has operated without interruption during the past year under a license or exemption order pursuant to section 4(2) of the act may file a renewal application on the form prescribed by the bureau.
(7) The application shall request a license or exemption order for each location from which the business of debt management is conducted.
(8) In the event of a change of business form, a new application shall be filed prior to the effective date of the change. The application shall include payment of a new fee as on renewal application.
(9) The bureau shall not accept for filing an application with a name that would cause confusion with the name of an existing form or governmental agency or cause confusion about services to be received from a licensee.
History: 1979 AC; 1985 AACS.