Servicing of Accounts by Contract

Section 210.220  Servicing of Accounts by Contract Upon prior approval of the Director, the licensee may contract with a third party provider for servicing of accounts (e.g., processing of payments, collections, etc.).  A request for the Director's approval shall be in writing and shall include the following: a)         Name and address of proposed servicer; b)         Executed contract, conditioned upon approval by the Director, between licensee and servicer; c)         Contact person and telephone number of the servicer; d)         A statement that the licensee will make all books, records, and account information readily available for examination by the Division; e)         A statement that the licensee will pay all examination expenses; and f)         Written consent of servicer for the Division to conduct its examination.