Registration statements, filing, contents, fee

1. A credit services organization shall file a registration statement with the director of finance before conducting business in this state. The registration statement must contain: (1) The name and address of the credit services organization; and (2) The name and address of any person who directly or indirectly owns or controls ten percent or more of the outstanding shares of stock in the credit services organization. 2. The registration statement must also contain either: (1) A full and complete disclosure of any litigation or unresolved complaint filed by or with a governmental authority of this state relating to the operation of the credit services organization; or (2) A notarized statement that states that there has been no litigation or unresolved complaint filed by or with a governmental authority of this state relating to the operation of the credit services organization. 3. The credit services organization shall update the statement not later than the ninetieth day after the date on which a change in the information required in the statement occurs. 4. Each credit services organization registering under this section shall maintain a copy of the registration statement in the office of the credit services organization. The credit services organization shall allow a buyer to inspect the registration statement on request. 5. The director of finance may charge each credit services organization that files a registration statement with the director of finance a reasonable fee not to exceed one thousand dollars to cover the cost of filing. The director of finance may not require a credit services organization to provide information other than that provided in the registration statement as part of the registration process.