Louisiana Revised Statutes 37:2585 – Qualifications for license
Terms Used In Louisiana Revised Statutes 37:2585
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Director: means director of the Division of Occupational Standards. See Louisiana Revised Statutes 37:2582
- Financial Planning and Management Service: means the planning and management of the financial affairs of an individual, and distribution of money to the creditors thereof, or acting as the agent of an individual in the distribution of his income to his creditors, whether or not the person so acting receives a fee or charge for such services. See Louisiana Revised Statutes 37:2582
- Individual: means the person or persons for whom the credit of financial adjusting service is performed. See Louisiana Revised Statutes 37:2582
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means any individual, firm partnership, association or corporation. See Louisiana Revised Statutes 37:2582
Upon the filing of the application and the approval of such bond and the payment of the specified fees, if the director shall, upon investigation, find:
(1) That the financial responsibility, experience, character and general fitness of the applicant, and of the members thereof (if the applicant be a partnership or association) and of the officers and directors thereof (if the applicant be a corporation) are such as to command the confidence of the community and to warrant belief that the business will be operated fairly, honestly and efficiently within the purposes of this Chapter, and
(2) That the applicant, if an individual, and the members thereof, if the applicant be a partnership or association, and the officers and directors thereof, if the application be a corporation, has not been convicted of any crime involving moral turpitude, or if such person or persons have not had a record of having defaulted in the payment of money collected for others, including the discharge of such debts through bankruptcy proceedings; the director shall thereupon issue and deliver a license to the applicant to engage in the financial planning and management service business in accordance with the provisions of this Chapter at the location specified in the said application, which license shall remain in full force and effect until it is surrendered by the licensee or revoked by the director as hereinafter provided, however, that each license shall expire by the terms hereof on January 1 next following the issuance thereof unless the same be renewed as hereinafter provided.
Acts 1970, No. 423, §5.