Rules and Regulations Regarding Collection Agency Licensure

No person, firm, corporation, or association shall conduct or operate a collection agency or do a collection agency business, as the same is hereinafter defined in this Article, until he or it shall have secured a permit therefor as provided in NCGS Chapter 58/Article 70.

Licensee shall furnish in writing to North Carolina Department of Insurance a notification with applicable documents when there is a; name change, address change, officer change, merger, or ownership change. The notification should include updated documents to reflect the change. Forms can be electronically obtained from the North Carolina License Management System (NCLMS) under "Supplemental Forms."

License Updates

Name & Address Change

Name & Address Change

In accordance with NCGS 58-2-69(b), every applicant/licensee is to submit, in writing, changes of address and/or email within ten (10) business days after the change.

Both name & address changes must be in writing and should be requested using a Name/Address Change Request form along with the submission of back-up documents listed on the form. The change form can be electronically obtained from the NCLMS under "Supplemental Forms." Login using your user id and password. Change requests should be sent electronically or surface mail to:

Email: northcarolinalicensingoffice@pearson.com

US Postal Service:
NC/State of DOI
PO Box 742175
Atlanta GA 30374-2175

Overnight:
Bank of America Lockbox Services
Lockbox 742175
6000 Feldwood Road
College Park GA 30349

Ownership Change

Ownership Change

Licensees are required to notify NCDOI of ownership changes no more than thirty (30) days after the change is finalized. Proposed changes do not require NCDOI’s pre-approval. Changes in ownership of less than 50% can be reported using an Ownership Change form that can be obtained from the NCLMS under "Supplemental Forms." Login using your user id and password.

Licensees with ownership changes of 50% or more must start over by applying for a new license and obtain a new permit number. The old permit number will remain active until, the new permit number is issued.

 

Owners, Governing Members, and Officer Changes

Owners, Governing Members, and Officer Changes

Updates to officers, directors and owners require the submission of Form DOI-5/Personal Questionnaire. Blank forms can be obtained by logging into the NCLMS.

Revisions to Correspondence, Forms and Brochures

Revisions to Correspondence, Forms and Brochures

Licensees should submit samples of new/updated correspondence, forms, and brochures for approval by the Commissioner before placed into usage. Submit a cover letter with license/permit number, description of proposed changes, effective date and samples of the revised documents. Requests for approval of revised documents should be sent by email to ASD@ncdoi.gov.

Voluntary Surrender of License

Voluntary Surrender of License

License voluntary surrnder must be requested in writing and signed by an authorized officer of the licensee. The request should include the name, address, license type, license number and effective date of the cancellation. Collection Agency licensees are subjected to additional procedures outlined in NC General Statute 58-70-80.