Rule 80-14-6-.04. Reports of Condition

Rule 80-14-6-.04. Reports of Condition

1. (1) Each installment loan servicer shall submit to the Nationwide Multistate Licensing System and Registry or through other means specified by the Department timely reports of condition in accordance with O.C.G.A. § 7-3-30 and Rule 80-14-4-.04(4) containing information detailing the installment loan servicer's activities, including, but not limited to:

   1. (a) The number of installment loans serviced;
   2. (b) Delinquency status of installment loans serviced; and
   3. (c) The number of installment loan modifications.
2. (2) Failure to submit the timely reports of condition required under Paragraph (1) of this Rule may result in revocation of the license or other appropriate administrative action and will subject the licensee to fines in accordance with regulations prescribed by the Department.

Authority: O.C.G.A. § 7-3-51.

History. Original Rule entitled "Reports of Condition" adopted. F. July 7, 2023; eff. July 27, 2023.