ROBERT L. EHRLICH, JR., Governor

Ch. 374

12-915.

.. (A) (1) A LICENSEE SHALL GIVE THE COMMISSIONER WRITTEN NOTICE OF
ANY CHANGE IN THE INFORMATION REQUIRED TO BE INCLUDED IN THE LICENSEE'S
APPLICATION UNDER § 12-908(B)(1) AND (2) OF THIS SUBTITLE WITHIN 40 30 DAYS
AFTER BEFORE THE CHANGE IS EFFECTIVE.

(2) THE LICENSEE SHALL PROVIDE WITH THE NOTICE EVIDENCE THAT,
AFTER THE CHANGE DESCRIBED IN THE NOTICE, THE LICENSEE WILL CONTINUE TO
SATISFY THE SURETY BOND REQUIREMENT UNDER § 12-914 OF THIS TITLE.

(B)     UNLESS APPROVED BY THE COMMISSIONER, A LICENSEE MAY NOT
CHANGE AN OWNER, OFFICER, DIRECTOR, OR PRINCIPAL OF THE LICENSEE, OR AN
AGENT WHO IS ACTING ON BEHALF OF THE LICENSEE TO MANAGE A TRUST
ACCOUNT, LISTED ON THE LICENSEE'S APPLICATION UNDER § 12-908(B)(3) AND (6) OF
THIS SUBTITLE.

(C)     (1) TO REQUEST APPROVAL OF A PROPOSED CHANGE DESCRIBED IN
SUBSECTION (B) OF THIS SECTION, THE LICENSEE SHALL NOTIFY THE
COMMISSIONER IN WRITING OF THE PROPOSED CHANGE AND SUBMIT ANY
INFORMATION THAT THE COMMISSIONER REQUIRES.

(2)      FOR A PROPOSED CHANGE IN OWNER OR AGENT ACTING ON BEHALF
OF THE LICENSEE TO MANAGE A TRUST ACCOUNT, THE COMMISSIONER MAY
DETERMINE THAT THE FILING OF A NEW APPLICATION FOR THE ISSUANCE OF A
LICENSE IS WARRANTED.

(3)      UNLESS THE COMMISSIONER NOTIFIES THE LICENSEE THAT A
DIFFERENT TIME PERIOD IS NECESSARY, THE COMMISSIONER SHALL APPROVE OR
DENY A REQUEST FOR A CHANGE DESCRIBED IN SUBSECTION (B) OF THIS SECTION
WITHIN 60 DAYS AFTER THE DATE THE COMMISSIONER RECEIVES ALL INFORMATION
REQUIRED UNDER PARAGRAPH (1) OF THIS SUBSECTION.

12-916.

(A) (1) A LICENSEE MAY NOT PERFORM DEBT MANAGEMENT SERVICES FOR
A CONSUMER UNLESS:

(1) (I) THE LICENSEE HAS PROVIDED PROVIDES THE CONSUMER
WITH A CONSUMER EDUCATION PROGRAM;

(2) (II) THE LICENSEE, THROUGH A DEBT MANAGEMENT SERVICES
COUNSELOR CERTIFIED BY AN INDEPENDENT ORGANIZATION, HAS:

(I) 1. PREPARED A FINANCIAL ANALYSIS OF AND A FINANCIAL
ANALYSIS OF AN INITIAL BUDGET PLAN FOR THE CONSUMER'S DEBT OBLIGATIONS;
AND

(II) 2. PROVIDED A COPY OF THE FINANCIAL ANALYSIS AND THE
FINANCIAL ANALYSIS INITIAL BUDGET PLAN TO THE CONSUMER; AND

3. PROVIDED TO THE CONSUMER, FOR ALL CREDITORS
IDENTIFIED BY THE CONSUMER A LIST OF:

- 2643 -