Iowa Admin. Code r. 187-20.3 - Application for license
(1) An application
for a license to operate a debt management business in Iowa shall be submitted
to the superintendent, on the form provided and with the information requested,
through the NMLS . The superintendent may consider an application withdrawn if
it does not contain all of the information required and the missing information
is not submitted to the superintendent within 30 days after the superintendent
requests the missing information. The applicant may also request that the
application be withdrawn at any time before the superintendent has decided to
grant or deny the application.
(2)
Each officer, director, and individual who has control of an applicant must
provide fingerprints, authorize a fingerprint background check through the
NMLS , and pay the appropriate fees for the purpose of conducting a national
criminal history background check through the Federal Bureau of
Investigation.
(3) The applicant
shall submit with the application an application fee of $100 and an initial
license fee of $250. The superintendent shall refund the initial license fee if
the application is denied, but the application fee is not subject to
refund.
(4) If any information
material to the application changes after the applicant files the initial
application, the applicant shall provide updated information to the
superintendent within ten days of the change. When such a material change in
information has occurred, the superintendent may deny an application if the
applicant fails to provide updated information within the prescribed time
frame.
(5) An applicant for a
license to operate a debt management business must file with the superintendent
a $25,000 surety bond in compliance with the provisions of Iowa Code section
533A.2(4).
(6) Licenses expire on the next December 31
after they are issued, but licenses granted on or after November 1 but before
January 1 will not expire until December 31 of the following year. For example,
a license granted on November 17, 2017, would not expire until December 31,
2018.
Notes
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