ROBERT L. EHRLICH, JR., Governor                             Ch. 374

(II) THE CONSUMER IS PROVIDED WITH A WRITTEN DISCLOSURE
OF THE RELATIONSHIP.

12-921.

(A)     (1) ON OR BEFORE APRIL 30 OF EACH YEAR, A LICENSEE SHALL REPORT
TO THE COMMISSIONER ON THE DEBT MANAGEMENT SERVICES BUSINESS OF THE
LICENSEE CONDUCTED DURING THE PRECEDING CALENDAR YEAR

(2)      THE ANNUAL REPORT SHALL BE ON THE FORM THAT THE
COMMISSIONER REQUIRES.

(3)      THE REPORT SHALL INCLUDE:

(I)      AN AUDITED FINANCIAL STATEMENT THAT IS PREPARED IN
ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AND
INCLUDES A BALANCE SHEET, INCOME STATEMENT, STATEMENT OF CHANGES IN
FUND BALANCES, AND STATEMENT OF CASH FLOW;

(II)     AN ALPHABETICAL LIST OF ALL DEBT MANAGEMENT
COUNSELORS EMPLOYED BY WHO PROVIDED SERVICES FOR THE LICENSEE DURING
THE PREVIOUS CALENDAR YEAR;

(III)   THE NUMBER OF CONSUMERS IN THE STATE FOR WHOM THE
LICENSEE PROVIDED DEBT MANAGEMENT SERVICES UNDER A DEBT MANAGEMENT
SERVICES AGREEMENT DURING THE PRECEDING CALENDAR YEAR;

(IV)    THE NUMBER OF CONSUMERS IN THE STATE WHO SIGNED NEW
DEBT MANAGEMENT SERVICES AGREEMENTS WITH THE LICENSEE DURING THE
PRECEDING CALENDAR YEAR;

(V)     THE HIGHEST NUMBER OF CONSUMERS IN THE STATE FOR
WHOM THE LICENSEE PROVIDED DEBT MANAGEMENT SERVICES UNDER A DEBT
MANAGEMENT SERVICES AGREEMENT DURING ANY MONTH IN THE PRECEDING
CALENDAR YEAR; AND

(VI)    THE AMOUNTS PAID BY CONSUMERS IN THE STATE TO THE
LICENSEE, BOTH IN TOTAL AND FOR EACH MONTH, DURING THE PRECEDING
CALENDAR YEAR, BROKEN DOWN BY:

1.       PAYMENTS TO BE DISBURSED TO CREDITORS; AND

2.       PAYMENTS FOR THE LICENSEE'S SERVICES.

(B)     (1) WITHIN 15 DAYS AFTER THE OCCURRENCE OF ANY OF THE
FOLLOWING EVENTS, A LICENSEE SHALL FILE A WRITTEN REPORT WITH THE
COMMISSIONER DESCRIBING THE EVENT AND ITS EXPECTED IMPACT ON THE
LICENSEE'S ACTIVITIES IN THE STATE:

(I) THE FILING FOR BANKRUPTCY OR REORGANIZATION BY THE
LICENSEE;

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