§ 69-1204. License; application; fees; bond; expiration; copy of contract.
AI-assisted research summary: To get a debt management license in this state, an applicant must file a sworn written application, pay the required fees, and post a $10,000 bond.
(1) Any person desiring to obtain a license to engage in the debt management business in this state shall file with the secretary an application in writing, under oath, setting forth the person's business name, the person's social security number if the applicant is an individual, the exact location of the person's office, the names and addresses of all officers and directors if an association or a corporation, if a partnership, the partnership name and the names and addresses of all partners, and if a limited liability company, the company name and the names and addresses of all members, and a copy of the certificate of registration of trade name, certificate of partnership, articles of organization, or articles of incorporation. (2) At the time of filing the application, the applicant shall pay to the secretary a license fee of two hundred dollars for the main office within each county and one hundred dollars for each additional office. An initial investigation fee of two hundred dollars shall also be paid to the secretary at the time of filing the application. (3) At the time of filing the application, the applicant shall furnish a bond to the people of the state in the sum of ten thousand dollars, conditioned upon the faithful accounting of all money collected upon accounts entrusted to such person engaged in debt management, and the person's employees and agents. The aggregate liability of the surety to all claimants doing business with the office for which the bond is filed shall in no event exceed the amount of such bond. The bond or bonds shall be approved by the secretary and filed in the office of the Secretary of State. No person, firm, limited liability company, or corporation shall engage in the business of debt management until a good and sufficient bond is filed in accordance with sections 69-1201 to 69-1217. (4) Each licensee shall furnish with the application a blank copy of the contract that the licensee intends to use between the licensee and the debtor and shall notify the secretary of all changes and amendments thereto within thirty days after such changes and amendments. (5) The license issued under sections 69-1201 to 69-1217 shall expire on December 31 next following its issuance unless sooner surrendered, revoked, or suspended, but may be renewed as provided in such sections. (6) The secretary shall remit the fees received pursuant to this section to the State Treasurer for credit to the Secretary of State Cash Fund. History: Laws 1967, c. 377, § 4, p. 1180; Laws 1982, LB 928, § 50; Laws 1983, LB 447, § 83; Laws 1993, LB 121, § 411; Laws 1997, LB 752, § 155; Laws 2020, LB910, § 29.