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Credit Services Organization Registration Statement CSO - West Virginia
| Credit Services Organization Registration Statement Form. This is a West Virginia form and can be used in Credit Service Organizations Business Organizations Secretary Of State . |
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Betty Ireland Secretary of State State Capitol Bldg. 1900 Kanawha Blvd. East Charleston, WV 25305 Penney Barker, Manager Corporations Division Tel: (304) 558-8000 Fax: (304) 558-8381 Hrs - 8:30-5:00pm www.wvsos.com Credit Services Organization Registration Statement business@wvsos.com FEE: $50 1. 2. The name of the Credit Services Organization is: The address of the principal office of the organization: (address) (city, state, zip) 3. The name and address to where Notice of Process may be sent: (Name) (address) (city, state, zip) 4. Please check the statement that relates to your organization: No, our organization does not collect any money from prospective borrowers prior to completion of services rendered. Therefore, no bond is required to be filed with the Office of Secretary of State. Yes, our organization does collect money from prospective borrowers prior to completion of services rendered, therefore we are filing a $15,000 Surety Bond with the Office of Secretary of State. 5. List person(s) who own(s) or control(s) more than 10% of the outstanding shares of stock of this organization. (Attach additional pages if necessary) Name Address Name 6. Address List a full and complete disclosure of any litigation or unresolved complaints filed with a governmental authority of this state relating to the operation of the credit service organization. If no litigation exists check the appropriate statement and have it notarized. (attach additional pages if necessary) Case Name or Agency: Location of Court: Decision/Results/or Complaint: Case Number: FORM CSO Issued by the WV Secretary of State Rev. 105 American LegalNet, Inc. www.USCourtForms.com Case Name or Agency: Location of Court: Decision/Results/or Complaint: Case Number: 7. If no litigation exists check the statement below, sign, and have it notarized I, , have the authority to represent the credit service organization filing this application and I do solemnly attest, under penalty of perjury, that this organization has never been involved in litigation involving its operations or that this organization has had no complaints filed with any government agency. Signature Acknowledgement: State of: I, certify that day acknowledged the same before me in my said county. Given under my hand on this date: My commission expires: County of: , a Notary Public in and for the county and state aforesaid, do hereby whose name is signed to the foregoing, has this Type or print (Signature of Notary) 8. Signature of registrant and contact information: (signature of person filing on behalf of organization) (Optional; name of contact person to reach in case of problem with filing) Date of signing Phone number 9. Business email address, if any: Email address PRINT THIS COPY, THEN CLICK HERE TO RESET. American LegalNet, Inc. www.USCourtForms.com Certain WV Code Information relating to Credit Service Organizations (other code information is found in §46A-6C of the WV Code) §46A-6C-2. Credit services organization. (a) A credit services organization is a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides, or represents that the person can or will provide, any of the following services: (1) Improving a buyer's credit record, history or rating; (2) Obtaining an extension of credit for a buyer; or (3) Providing advice or assistance to a buyer with regard to subdivision (1) or (2) of this subsection. (b) The following are exempt from this article: (1) A person authorized to make loans or extension of credit under the law of this state or the United States who is subject to regulation and supervision by this state or the United States, or a lender approved by the United States secretary of housing and urban development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (2) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the federal deposit insurance corporation or the federal savings and loan insurance corporation, or a subsidiary of such a bank or savings and loan association; (3) A credit union doing business in this state; (4) A nonprofit organization exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986; (5) A person licensed as a real estate broker or salesman under the Real Estate Brokers License Act acting within the course and scope of that license; (6) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (7) A broker-dealer registered with the securities and exchange commission or the commodity future trading commission acting within the course and scope of that regulation; (8) A consumer reporting agency; (9) A person whose primary business is making loans secured by liens on real property; and (10)A person licensed to practice public accounting in this state acting within the course and scope of the person's practice as an accountant. 46A-6C-4. Bond; surety account. (a) This section applies to a credit services organization required by section three of this article to obtain a surety bond or establish a surety account. (b) If a bond is obtained, a copy of it shall be filed with the secretary of state. If a surety account is established, notification of the depository, the trustee, and the account number shall be filed with the secretary of state. (c) The bond or surety account required must be in favor of the state of the benefit of any person who is damaged by any violation of this article. The bond or surety account must also be in favor of any person damaged by such a violation. (d) Any person claiming against the bond or surety account for a violation of this article may maintain an action at law against the credit services organization and against the surety or trustee. The surety or trustee shall be liable only for damages awarded under section nine of this article and not the punitive damages permitted under that section. The aggregate liability of the surety or trustee to all persons damaged by a credit services organization's violation of this chapter may not exceed the amount of the surety account or bond. (e) The bond or the surety account shall be in the amount of fifteen thousand dollars. (f) A depository holding money in a surety account under this chapter may not convey money in the account to the credit services organization that
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