S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6511
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2017
                                ___________
 
 Introduced  by M. of A. MORELLE, RODRIGUEZ, CRESPO, LUPARDO, M. G. MILL-
   ER, GALEF, McDONALD, MOSLEY, HIKIND, STIRPE, JAFFEE -- Multi-Sponsored
   by -- M. of A. MAGEE, SIMON -- read once and referred to the Committee
   on Banks
 
 AN ACT to amend the banking law, in relation  to  enacting  the  "credit
   creation  pilot program act of New York"; and providing for the repeal
   of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "credit creation pilot program act of New York".
   § 2. The legislature finds  and  declares  that  consumer  demand  for
 responsible  installment  loans  in  principal amounts of at least three
 hundred dollars and no more  than  five  thousand  dollars  exceeds  the
 supply  of  these loans. The legislature has identified several improve-
 ments that could be made to the banking laws, which would allow more New
 Yorkers to access  responsible  installment  loans  of  at  least  three
 hundred  dollars  and  no  more  than  five thousand dollars. The credit
 creation pilot program act of New York is intended to  assist  consumers
 in  building  their  credit  and has additional consumer protections for
 these loans which exceed current protections under existing law.
   § 3. The banking law is amended by adding a new article 8-B to read as
 follows:
                                ARTICLE 8-B
               CREDIT CREATION PILOT PROGRAM ACT OF NEW YORK
 SECTION 339-A. CREATION OF PILOT PROGRAM AND DEFINITIONS.
         339-B. APPROVAL  REQUIRED;  PROGRAM  APPLICATION   REQUIREMENTS;
                  FEES.
         339-C. REQUIREMENTS FOR PROGRAM LOANS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10403-01-7

              

 A. 6511                             2
 
         339-D. UNDERWRITING   REQUIREMENTS;   CREDIT  REPORTING;  CREDIT
                  EDUCATION; PROHIBITION  ON  REFINANCE;  PROHIBITION  ON
                  CREDIT INSURANCE; AND ADDITIONAL CONSUMER PROTECTIONS.
         339-E. DISCLOSURES, STATEMENTS AND RECEIPTS.
         339-F. REFERRAL  PARTNERS; PERMITTED SERVICES; PROHIBITED ACTIV-
                  ITIES; COMPENSATION.
         339-G. EXAMINATIONS AND GROUNDS FOR DISCIPLINARY ACTION.
         339-H. PROGRAM REPORTING.
   § 339-A. CREATION OF PILOT PROGRAM AND DEFINITIONS. 1. THE SUPERINTEN-
 DENT SHALL CREATE  AND  IMPLEMENT  WITHIN  THE  DEPARTMENT,  THE  CREDIT
 CREATION PILOT PROGRAM ACT OF NEW YORK.
   2. FOR PURPOSES OF THIS ARTICLE:
   (A)  "CONSUMER  REPORTING  AGENCY"  HAS THE SAME MEANING AS IN SECTION
 603(P) OF THE FAIR CREDIT REPORTING ACT, 15 U.S.C. SECTION 1681A(P).
   (B) "CREDIT SCORE" HAS THE SAME MEANING AS IN SECTION 609(F)(2)(A)  OF
 THE FAIR CREDIT REPORTING ACT, 15 U.S.C. SECTION 1681G(F)(2)(A).
   (C)  "DATA  FURNISHER" HAS THE SAME MEANING AS THE TERM "FURNISHER" IN
 12 C.F.R. SECTION 1022.41(C).
   (D) "PILOT PROGRAM" OR  "PROGRAM"  MEANS  THE  CREDIT  CREATION  PILOT
 PROGRAM ACT OF NEW YORK.
   (E)  "PILOT  PROGRAM LICENSEE" OR "PROGRAM LICENSEE" MEANS A PERSON OR
 ENTITY THAT IS LICENSED TO MAKE AND COLLECT  PROGRAM  LOANS  UNDER  THIS
 ARTICLE  AND WHO IS APPROVED BY THE SUPERINTENDENT TO PARTICIPATE IN THE
 PROGRAM.
   (F) "PILOT PROGRAM MASTER LICENSE" OR "PROGRAM MASTER LICENSE" MEANS A
 PROGRAM MASTER LICENSE ISSUED BY THE SUPERINTENDENT UNDER  THIS  ARTICLE
 AUTHORIZING A PROGRAM LICENSEE TO MAKE AND COLLECT PROGRAM LOANS.
   (G)  "PROGRAM  BRANCH  OFFICE  LICENSE" MEANS THE LICENSE GRANTED TO A
 PROGRAM LICENSEE WITH A PROGRAM MASTER LICENSE FOR  ADDITIONAL  LICENSED
 PROGRAM  LOCATIONS, EXCLUDING A PROGRAM LICENSEE'S OR REFERRAL PARTNER'S
 PRINCIPAL PLACE OF BUSINESS, AT  WHICH  PROGRAM  LOANS  ARE  ORIGINATED,
 NEGOTIATED, FUNDED, OR SERVICED BY A PROGRAM LICENSEE.
   (H)  "PROGRAM LOAN" MEANS A CONSUMER INSTALLMENT LOAN WITH A PRINCIPAL
 AMOUNT OF AT LEAST THREE HUNDRED DOLLARS AND NO MORE THAN FIVE  THOUSAND
 DOLLARS.
   (I) "REFERRAL PARTNER" MEANS AN ENTITY THAT, AT THE REFERRAL PARTNER'S
 PHYSICAL  LOCATION  FOR BUSINESS OR THROUGH OTHER MEANS, PERFORMS ONE OR
 MORE OF THE PERMITTED SERVICES SPECIFIED IN SECTION THREE HUNDRED  THIR-
 TY-NINE-F  OF  THIS  ARTICLE ON BEHALF OF A PROGRAM LICENSEE. A REFERRAL
 PARTNER SHALL NOT MEAN A LOAN BROKER AS DEFINED IN SECTION 5-531 OF  THE
 GENERAL OBLIGATIONS LAW.
   (J) "SUPERINTENDENT" MEANS THE SUPERINTENDENT OF FINANCIAL SERVICES.
   § 339-B. APPROVAL REQUIRED; PROGRAM APPLICATION REQUIREMENTS; FEES. 1.
 A  PROGRAM  LICENSEE MAY NOT OFFER OR MAKE A PROGRAM LOAN, OR IMPOSE ANY
 CHARGES OR FEES PURSUANT TO THIS ARTICLE, WITHOUT  PRIOR  APPROVAL  FROM
 THE SUPERINTENDENT TO PARTICIPATE IN THE PROGRAM.
   2. IN ORDER TO PARTICIPATE IN THE PROGRAM, A PERSON OR ENTITY MUST:
   (A) BE LICENSED AS A LENDER PURSUANT TO ARTICLE NINE OF THIS CHAPTER;
   (B) NOT BE THE SUBJECT OF ANY INSOLVENCY PROCEEDINGS;
   (C)  BE IN GOOD STANDING WITH THE SUPERINTENDENT AND NOT BE SUBJECT TO
 ANY OUTSTANDING ENFORCEMENT OR OTHER DISCIPLINARY ACTIONS TAKEN  AGAINST
 IT BY ANY OF NEW YORK'S FINANCIAL REGULATORS OR BY A FINANCIAL REGULATOR
 OF  ANOTHER  STATE, THE DISTRICT OF COLUMBIA OR ANY AGENCY OF THE UNITED
 STATES;
   (D) PAY AN APPLICATION FEE OF THREE THOUSAND  DOLLARS  TO  THE  SUPER-
 INTENDENT AT THE TIME OF MAKING THE APPLICATION;

 A. 6511                             3
 
   (E)  FILE  WITH THE SUPERINTENDENT AN APPLICATION IN A FORM AND MANNER
 PRESCRIBED BY THE SUPERINTENDENT WHICH CONTAINS THE  FOLLOWING  INFORMA-
 TION WITH RESPECT TO THE PROGRAM APPLICANT AND SUCH OTHER INFORMATION AS
 THE SUPERINTENDENT MAY REQUIRE BY REGULATION:
   (I)  THE LEGAL BUSINESS NAME AND ANY OTHER NAME THE APPLICANT OPERATES
 UNDER OTHER THAN THE LEGAL BUSINESS NAME;
   (II) THE ADDRESS OF THE PRINCIPAL PLACE OF BUSINESS;
   (III) THE TELEPHONE NUMBER AND E-MAIL ADDRESS;
   (IV) THE ADDRESS OF ANY PROGRAM BRANCH OFFICE;
   (V) THE NAME AND ADDRESS OF THE APPLICANT AND IF THE  APPLICANT  IS  A
 PARTNERSHIP OR LIMITED LIABILITY COMPANY, THE NAMES AND ADDRESSES OF THE
 MEMBERS,  OR  IF THE APPLICANT IS A CORPORATION, THE NAMES AND ADDRESSES
 OF THE SHAREHOLDERS OWNING TEN PERCENT OR MORE OF  THE  SHARES  OF  SUCH
 CORPORATION;
   (VI)  THE CONTACT PERSON'S NAME, TITLE, ADDRESS, TELEPHONE NUMBER, AND
 E-MAIL ADDRESS;
   (VII) THE LICENSE NUMBER, IF LICENSED UNDER ARTICLE NINE OF THIS CHAP-
 TER;
   (VIII) A STATEMENT AS TO WHETHER THE  APPLICANT  INTENDS  TO  USE  THE
 SERVICES  OF  ONE  OR MORE REFERRAL PARTNERS UNDER SECTION THREE HUNDRED
 THIRTY-NINE-F OF THIS ARTICLE;
   (IX) A STATEMENT THAT THE  APPLICANT  HAS  BEEN  ACCEPTED  AS  A  DATA
 FURNISHER  BY  A CONSUMER REPORTING AGENCY AND WILL REPORT TO A CONSUMER
 REPORTING AGENCY THE PAYMENT PERFORMANCE OF EACH BORROWER ON  ALL  LOANS
 MADE UNDER THE PROGRAM; AND
   (X)  THE  SIGNATURE  AND  CERTIFICATION OF AN AUTHORIZED PERSON OF THE
 APPLICANT.
   3. A PROGRAM LICENSEE WHO DESIRES TO PARTICIPATE IN  THE  PROGRAM  BUT
 WHO IS NOT LICENSED TO MAKE LOANS PURSUANT TO ARTICLE NINE OF THIS CHAP-
 TER  MUST  SUBMIT  CONCURRENTLY  THE  FOLLOWING  TWO APPLICATIONS TO THE
 SUPERINTENDENT, IN A FORM AND MANNER SPECIFIED IN THIS SECTION:
   (A) AN APPLICATION AND A FEE FOR A MASTER LICENSE PURSUANT TO  ARTICLE
 NINE OF THIS CHAPTER; AND
   (B)  AN  APPLICATION AND A FEE FOR ADMISSION TO THE PROGRAM IN ACCORD-
 ANCE WITH PARAGRAPHS (D) AND (E) OF SUBDIVISION TWO OF THIS SECTION.
   4. EXCEPT AS OTHERWISE PROVIDED IN THIS ARTICLE, A PROGRAM LICENSEE IS
 SUBJECT TO ALL THE LAWS AND RULES GOVERNING CONSUMER LOANS UNDER ARTICLE
 NINE OF THIS CHAPTER.
   5. ALL PROGRAM LICENSEES SHALL BE  ASSESSED  AN  ANNUAL  NONREFUNDABLE
 LICENSE FEE OF ONE THOUSAND DOLLARS.
   6.  ONLY  ONE PILOT PROGRAM MASTER LICENSE IS REQUIRED FOR A PERSON OR
 ENTITY TO MAKE PROGRAM LOANS UNDER THIS ARTICLE, REGARDLESS  OF  WHETHER
 THE  PROGRAM  LICENSEE  OFFERS PROGRAM LOANS TO PROSPECTIVE BORROWERS AT
 ITS OWN PHYSICAL BUSINESS LOCATIONS, THROUGH REFERRAL PARTNERS,  OR  VIA
 AN  ELECTRONIC  ACCESS  POINT  THROUGH  WHICH A PROSPECTIVE BORROWER MAY
 DIRECTLY ACCESS THE WEBSITE OF THE PROGRAM LICENSEE.
   7. EACH BRANCH OFFICE OF A PROGRAM LICENSEE  MUST  BE  LICENSED  UNDER
 THIS SECTION.
   8.  THIS SUPERINTENDENT SHALL ISSUE A PROGRAM BRANCH OFFICE LICENSE TO
 A PROGRAM LICENSEE AFTER THE SUPERINTENDENT DETERMINES THAT THE  PROGRAM
 LICENSEE  HAS  SUBMITTED  A  COMPLETED  APPLICATION FOR A PROGRAM BRANCH
 OFFICE LICENSE IN A FORM PRESCRIBED BY THE SUPERINTENDENT AND PAYMENT OF
 AN INITIAL NONREFUNDABLE PROGRAM  BRANCH  OFFICE  LICENSE  FEE  OF  FIVE
 HUNDRED  DOLLARS FOR EACH BRANCH OFFICE AS PRESCRIBED BY THE SUPERINTEN-
 DENT. APPLICATION FEES MAY NOT BE PRORATED FOR PARTIAL YEARS  OF  LICEN-
 SURE.  THE  PROGRAM BRANCH OFFICE LICENSE SHALL BE ISSUED IN THE NAME OF

 A. 6511                             4
 
 THE PROGRAM LICENSEE THAT MAINTAINS THE BRANCH OFFICE.  THE  APPLICATION
 FOR A PROGRAM BRANCH OFFICE LICENSE SHALL CONTAIN THE FOLLOWING INFORMA-
 TION WITH RESPECT TO THE APPLICANT:
   (A)  THE LEGAL BUSINESS NAME AND ANY OTHER NAME THE APPLICANT OPERATES
 UNDER OTHER THAN THE LEGAL BUSINESS NAME;
   (B) THE ADDRESS OF THE PRINCIPAL PLACE OF BUSINESS;
   (C) THE TELEPHONE NUMBER AND E-MAIL ADDRESS;
   (D) THE ADDRESS OF EACH PROGRAM BRANCH OFFICE;
   (E) THE CONTACT PERSON'S NAME, TITLE, ADDRESS, TELEPHONE  NUMBER,  AND
 E-MAIL ADDRESS;
   (F) THE PROGRAM MASTER LICENSE NUMBER, IF LICENSED UNDER THIS ARTICLE;
 AND
   (G)  THE  SIGNATURE  AND  CERTIFICATION OF AN AUTHORIZED PERSON OF THE
 APPLICANT.
   § 339-C. REQUIREMENTS FOR PROGRAM LOANS. 1. A PROGRAM  LICENSEE  SHALL
 COMPLY WITH EACH OF THE FOLLOWING REQUIREMENTS IN MAKING PROGRAM LOANS:
   (A) A PROGRAM LOAN SHALL BE UNSECURED;
   (B)  A  PROGRAM LOAN SHALL HAVE A MINIMUM PRINCIPAL AMOUNT UPON ORIGI-
 NATION OF THREE HUNDRED DOLLARS AND  A  MAXIMUM  PRINCIPAL  AMOUNT  UPON
 ORIGINATION  OF FIVE THOUSAND DOLLARS EXCLUDING THE AMOUNT OF THE ORIGI-
 NATION FEE PERMITTED UNDER SUBDIVISION THREE OF THIS SECTION;
   (C) A PROGRAM LOAN SHALL HAVE A TERM OF  NOT  LESS  THAN  TWO  HUNDRED
 FORTY DAYS;
   (D)  A PROGRAM LOAN MUST BE REPAYABLE BY THE BORROWER IN SUBSTANTIALLY
 EQUAL WEEKLY, BIWEEKLY, SEMIMONTHLY, OR MONTHLY INSTALLMENTS; AND
   (E) A PROGRAM LOAN MUST INCLUDE A  BORROWER'S  RIGHT  TO  RESCIND  THE
 PROGRAM  LOAN BY NOTIFYING THE PROGRAM LICENSEE OF THE BORROWER'S INTENT
 TO RESCIND THE PROGRAM LOAN AND RETURN THE PRINCIPAL ADVANCED BY THE END
 OF THE BUSINESS DAY AFTER THE DAY THE PROGRAM LOAN IS CONSUMMATED.
   2. AS AN ALTERNATIVE TO THE CHARGES AUTHORIZED BY SECTION 5-501 OF THE
 GENERAL OBLIGATIONS LAW OR SECTION FOURTEEN-A OF THIS CHAPTER, A PROGRAM
 LICENSEE MAY CONTRACT FOR AND RECEIVE CHARGES FOR A  PROGRAM  LOAN  MADE
 PURSUANT TO THIS SECTION AT AN ANNUAL SIMPLE INTEREST RATE NOT TO EXCEED
 THIRTY  PERCENT.  THE  INTEREST  RATE  CALCULATED AS OF THE DATE OF LOAN
 ORIGINATION SHALL BE FIXED FOR THE LIFE OF THE LOAN AND SHALL ACCRUE  ON
 A  SIMPLE-INTEREST  BASIS,  THROUGH  THE APPLICATION OF A DAILY PERIODIC
 RATE TO THE ACTUAL UNPAID PRINCIPAL BALANCE EACH DAY.
   3. NOTWITHSTANDING SECTION 5-501 OF THE  GENERAL  OBLIGATIONS  LAW  OR
 SECTION  FOURTEEN-A OF THIS CHAPTER, A PROGRAM LICENSEE MAY CONTRACT FOR
 AND RECEIVE A NONREFUNDABLE ORIGINATION FEE FROM THE BORROWER,  PROVIDED
 THAT  THE  BORROWER HAS NOT RESCINDED THE PROGRAM LOAN PURSUANT TO PARA-
 GRAPH (E) OF SUBDIVISION ONE OF THIS SECTION. THE ORIGINATION FEE  SHALL
 BE  FULLY  EARNED IMMEDIATELY UPON MAKING THE PROGRAM LOAN, IN AN AMOUNT
 NOT TO EXCEED FIVE PERCENT OF THE PRINCIPAL  AMOUNT,  EXCLUSIVE  OF  THE
 ORIGINATION  FEE,  OR  SEVENTY-FIVE  DOLLARS,  WHICHEVER IS LESS, ON THE
 PROGRAM LOAN MADE TO THAT BORROWER.   AN ORIGINATION FEE  CHARGED  BY  A
 PROGRAM LICENSEE SHALL BE SUBJECT TO ALL OF THE FOLLOWING:
   (I)  ONLY ONE ORIGINATION FEE MAY BE CONTRACTED FOR OR RECEIVED FROM A
 BORROWER UNTIL THE PROGRAM LOAN HAS BEEN REPAID IN FULL;
   (II) A PROGRAM LICENSEE SHALL NOT CHARGE THE SAME BORROWER  AN  ORIGI-
 NATION FEE MORE THAN TWICE IN ANY TWELVE-MONTH PERIOD; AND
   (III)  THE PROGRAM LICENSEE MAY EITHER DEDUCT THE ORIGINATION FEE FROM
 THE PRINCIPAL AMOUNT OF THE PROGRAM LOAN DISBURSED TO  THE  BORROWER  OR
 CAPITALIZE THE ORIGINATION FEE INTO THE PRINCIPAL BALANCE OF THE PROGRAM
 LOAN.

 A. 6511                             5
 
   4.  NOTWITHSTANDING SECTION THREE HUNDRED FIFTY-ONE OF THIS CHAPTER, A
 PROGRAM LICENSEE MAY:
   (A)  REQUIRE  PAYMENT  FROM  A  BORROWER  OF  NO MORE THAN TWENTY-FIVE
 DOLLARS FOR INSUFFICIENT FUNDS FEES INCURRED BY  THAT  PROGRAM  LICENSEE
 DUE TO ACTIONS OF THE BORROWER; AND
   (B)  CONTRACT  FOR AND RECEIVE A DELINQUENCY FEE OF NO MORE THAN FOUR-
 TEEN DOLLARS FOR EACH PAYMENT IN DEFAULT FOR AT LEAST SEVEN DAYS IF  THE
 CHARGE IS AGREED UPON IN WRITING BETWEEN THE PARTIES BEFORE IMPOSING THE
 CHARGE.  A  DELINQUENCY  FEE IMPOSED BY A PROGRAM LICENSEE IS SUBJECT TO
 ALL OF THE FOLLOWING:
   (I) NO MORE THAN ONE DELINQUENCY FEE MAY  BE  IMPOSED  PER  DELINQUENT
 PAYMENT;
   (II) NO MORE THAN TWO DELINQUENCY FEES MAY BE IMPOSED DURING ANY PERI-
 OD OF THIRTY CONSECUTIVE DAYS; AND
   (III)  NO  DELINQUENCY  FEE  MAY  BE  IMPOSED ON A BORROWER WHO IS ONE
 HUNDRED EIGHTY DAYS OR MORE PAST DUE IF THAT FEE WOULD RESULT IN THE SUM
 OF THE BORROWER'S REMAINING UNPAID PRINCIPAL BALANCE, ACCRUED  INTEREST,
 AND  DELINQUENCY  FEES  EXCEEDING  ONE  HUNDRED  EIGHTY  PERCENT  OF THE
 ORIGINAL PRINCIPAL AMOUNT OF THE BORROWER'S LOAN.
   § 339-D. UNDERWRITING REQUIREMENTS; CREDIT  REPORTING;  CREDIT  EDUCA-
 TION;  PROHIBITION  ON  REFINANCE;  PROHIBITION ON CREDIT INSURANCE; AND
 ADDITIONAL CONSUMER PROTECTIONS. 1.  THE  FOLLOWING  SHALL  APPLY  TO  A
 PROGRAM LOAN MADE BY A PROGRAM LICENSEE PURSUANT TO THIS ARTICLE:
   (A)  THE PROGRAM LICENSEE SHALL UNDERWRITE EACH PROGRAM LOAN TO DETER-
 MINE A BORROWER'S ABILITY AND WILLINGNESS  TO  REPAY  THE  PROGRAM  LOAN
 PURSUANT TO THE PROGRAM LOAN TERMS, AND SHALL NOT MAKE A PROGRAM LOAN IF
 IT  DETERMINES  THAT THE BORROWER'S TOTAL MONTHLY DEBT SERVICE PAYMENTS,
 AT THE TIME OF ORIGINATION, INCLUDING THE PROGRAM  LOAN  FOR  WHICH  THE
 BORROWER  IS  BEING  CONSIDERED AND ALL OUTSTANDING FORMS OF CREDIT THAT
 CAN BE INDEPENDENTLY VERIFIED BY THE PROGRAM  LICENSEE,  EXCEED  THIRTY-
 FIVE PERCENT OF THE BORROWER'S GROSS MONTHLY INCOME.
   (I)  (A) THE PROGRAM LICENSEE SHALL SEEK INFORMATION AND DOCUMENTATION
 PERTAINING TO ALL OF A BORROWER'S OUTSTANDING  DEBT  OBLIGATIONS  DURING
 THE  PROGRAM  LOAN APPLICATION AND UNDERWRITING PROCESS, INCLUDING LOANS
 THAT ARE SELF-REPORTED BY THE BORROWER BUT NOT AVAILABLE  THROUGH  INDE-
 PENDENT VERIFICATION. THE PROGRAM LICENSEE SHALL VERIFY THAT INFORMATION
 USING  A  CREDIT REPORT FROM AT LEAST ONE CONSUMER REPORTING AGENCY THAT
 COMPILES AND MAINTAINS FILES ON  CONSUMERS  ON  A  NATIONWIDE  BASIS  OR
 THROUGH  OTHER  AVAILABLE  ELECTRONIC  DEBT  VERIFICATION  SERVICES THAT
 PROVIDE RELIABLE EVIDENCE OF A BORROWER'S OUTSTANDING DEBT OBLIGATIONS.
   (B) THE PROGRAM LICENSEE  SHALL  NOT  BE  REQUIRED  TO  CONSIDER,  FOR
 PURPOSES OF DEBT-TO-INCOME RATIO EVALUATION, LOANS FROM FRIENDS OR FAMI-
 LY.
   (II) THE PROGRAM LICENSEE SHALL ALSO VERIFY THE BORROWER'S INCOME THAT
 THE  PROGRAM  LICENSEE RELIES ON TO DETERMINE THE BORROWER'S DEBT-TO-IN-
 COME RATIO USING INFORMATION FROM EITHER OF THE FOLLOWING:
   (A) ELECTRONIC MEANS OR SERVICES THAT PROVIDE RELIABLE EVIDENCE OF THE
 BORROWER'S ACTUAL INCOME; OR
   (B) INTERNAL REVENUE SERVICE FORM W-2, TAX RETURNS, PAYROLL  RECEIPTS,
 BANK  STATEMENTS, OR OTHER THIRD-PARTY DOCUMENTS THAT PROVIDE REASONABLY
 RELIABLE EVIDENCE OF THE BORROWER'S ACTUAL INCOME.
   (B) THE PROGRAM LICENSEE SHALL REPORT EACH BORROWER'S PAYMENT PERFORM-
 ANCE TO AT LEAST ONE CONSUMER REPORTING AGENCY THAT COMPILES  AND  MAIN-
 TAINS  FILES  ON  CONSUMERS  ON A NATIONWIDE BASIS. FOR PURPOSES OF THIS
 SECTION, A CONSUMER REPORTING AGENCY THAT COMPILES AND  MAINTAINS  FILES
 ON  CONSUMERS  ON A NATIONWIDE BASIS IS ONE THAT MEETS THE DEFINITION IN

 A. 6511                             6
 
 SECTION 60-3(P) OF THE FEDERAL FAIR CREDIT REPORTING ACT (15 U.S.C. SEC.
 1681A(P)).
   (C)  THE PROGRAM LICENSEE SHALL PROVIDE EACH BORROWER WITH THE NAME OF
 THE CONSUMER REPORTING AGENCY OR AGENCIES TO WHICH IT  WILL  REPORT  THE
 BORROWER'S PAYMENT HISTORY.
   (D) THE PROGRAM LICENSEE SHALL NOTIFY EACH BORROWER, AT LEAST TWO DAYS
 PRIOR  TO  EACH  PAYMENT  DUE DATE, INFORMING THE BORROWER OF THE AMOUNT
 DUE, AND THE PAYMENT DUE DATE. NOTIFICATION MAY BE PROVIDED BY ANY MEANS
 MUTUALLY ACCEPTABLE TO THE BORROWER AND THE PROGRAM LICENSEE. A BORROWER
 SHALL HAVE THE RIGHT TO OPT OUT OF THIS NOTIFICATION AT ANY  TIME,  UPON
 ELECTRONIC  OR  WRITTEN  REQUEST  TO  THE  PROGRAM LICENSEE. THE PROGRAM
 LICENSEE SHALL NOTIFY EACH BORROWER OF THIS RIGHT  PRIOR  TO  DISBURSING
 PROGRAM LOAN PROCEEDS.
   (E) BEFORE DISBURSING PROGRAM LOAN PROCEEDS TO A BORROWER, THE PROGRAM
 LICENSEE SHALL EITHER:
   (I)  OFFER  A CREDIT EDUCATION PROGRAM OR SEMINAR TO THE BORROWER THAT
 HAS BEEN PREVIOUSLY REVIEWED AND APPROVED BY THE SUPERINTENDENT FOR  USE
 IN COMPLYING WITH THIS SECTION; OR
   (II)  INVITE  THE  BORROWER  TO  A CREDIT EDUCATION PROGRAM OR SEMINAR
 OFFERED BY AN INDEPENDENT THIRD PARTY THAT HAS BEEN PREVIOUSLY  REVIEWED
 AND  APPROVED  BY  THE  SUPERINTENDENT  FOR  USE  IN COMPLYING WITH THIS
 SECTION. THE BORROWER SHALL NOT BE REQUIRED TO PARTICIPATE IN EITHER  OF
 THESE  EDUCATION  PROGRAMS  OR  SEMINARS.  A CREDIT EDUCATION PROGRAM OR
 SEMINAR OFFERED PURSUANT TO THIS PARAGRAPH SHALL BE PROVIDED AT NO  COST
 TO THE BORROWER.
   (F)  A  PROGRAM LICENSEE SHALL NOT REFINANCE A PROGRAM LOAN. REFINANCE
 MEANS THE REPLACEMENT OR REVISION OF AN EXISTING PROGRAM  LOAN  CONTRACT
 WITH  A  BORROWER  IN EXCHANGE FOR AN ADVANCE OF ADDITIONAL PRINCIPAL TO
 THAT BORROWER. A PROGRAM  LICENSEE  MAY  EXTEND,  DEFER,  OR  REWRITE  A
 PROGRAM LOAN.
   2. (A) NOTWITHSTANDING SECTION THREE HUNDRED FIFTY-SEVEN OF THIS CHAP-
 TER,  NO PROGRAM LICENSEE, REFERRAL PARTNER OR ANY OTHER PERSON OR ENTI-
 TY, IN CONNECTION WITH, OR INCIDENTAL TO, THE MAKING OF ANY PROGRAM LOAN
 MADE PURSUANT TO THIS ARTICLE, MAY OFFER, SELL, OR REQUIRE THE  BORROWER
 TO  CONTRACT FOR "CREDIT INSURANCE" OF THE TYPE SPECIFIED IN SUBDIVISION
 THREE OF SECTION THREE HUNDRED FIFTY-SEVEN OF THIS CHAPTER OR  INSURANCE
 ON  TANGIBLE PERSONAL OR REAL PROPERTY OF THE TYPE SPECIFIED IN SUBDIVI-
 SION ONE OF SECTION THREE HUNDRED FIFTY-SEVEN OF THIS CHAPTER.
   (B) NOTWITHSTANDING SECTION THREE HUNDRED FIFTY-SEVEN OF THIS CHAPTER,
 NO PROGRAM LICENSEE, REFERRAL PARTNER, OR ANY OTHER PERSON THAT  PARTIC-
 IPATES  IN  THE  ORIGINATION  OF A PROGRAM LOAN UNDER THIS ARTICLE SHALL
 REFER A BORROWER TO ANY OTHER PERSON FOR THE PURCHASE OF "CREDIT  INSUR-
 ANCE"  OF  THE  TYPE  SPECIFIED  IN  SUBDIVISION  THREE OF SECTION THREE
 HUNDRED FIFTY-SEVEN OF THIS CHAPTER OR INSURANCE ON TANGIBLE PERSONAL OR
 REAL PROPERTY OF THE TYPE SPECIFIED IN SUBDIVISION ONE OF SECTION  THREE
 HUNDRED FIFTY-SEVEN OF THIS CHAPTER.
   3.  (A) NO PROGRAM LICENSEE SHALL REQUIRE, AS A CONDITION OF PROVIDING
 THE PROGRAM LOAN, THAT THE BORROWER WAIVE ANY  RIGHT,  PENALTY,  REMEDY,
 FORUM,  OR  PROCEDURE  PROVIDED FOR IN ANY LAW APPLICABLE TO THE PROGRAM
 LOAN, INCLUDING THE RIGHT TO FILE AND PURSUE A CIVIL ACTION  OR  FILE  A
 COMPLAINT  WITH  OR OTHERWISE COMMUNICATE WITH THE SUPERINTENDENT OR ANY
 COURT OR OTHER PUBLIC ENTITY, OR THAT  THE  BORROWER  AGREE  TO  RESOLVE
 DISPUTES  IN A JURISDICTION OUTSIDE OF NEW YORK OR TO THE APPLICATION OF
 LAWS OTHER THAN THOSE OF NEW YORK, AS PROVIDED BY LAW.  ANY WAIVER  THAT
 IS  REQUIRED  AS A CONDITION OF DOING BUSINESS WITH THE PROGRAM LICENSEE

 A. 6511                             7
 
 SHALL BE PRESUMED INVOLUNTARY, UNCONSCIONABLE,  AGAINST  PUBLIC  POLICY,
 AND UNENFORCEABLE.
   (B)  NO PROGRAM LICENSEE SHALL REFUSE TO DO BUSINESS WITH OR DISCRIMI-
 NATE AGAINST A BORROWER OR APPLICANT ON THE BASIS THAT THE  BORROWER  OR
 APPLICANT  REFUSES TO WAIVE ANY RIGHT, PENALTY, REMEDY, FORUM, OR PROCE-
 DURE, INCLUDING THE RIGHT TO FILE AND PURSUE A CIVIL ACTION OR COMPLAINT
 WITH, OR OTHERWISE NOTIFY, THE SUPERINTENDENT  OR  ANY  COURT  OR  OTHER
 PUBLIC  ENTITY.  THE EXERCISE OF A PERSON'S RIGHT TO REFUSE TO WAIVE ANY
 RIGHT, PENALTY, REMEDY, FORUM, OR PROCEDURE, INCLUDING A REJECTION OF  A
 CONTRACT  REQUIRING A WAIVER, SHALL NOT AFFECT ANY OTHERWISE LEGAL TERMS
 OF A CONTRACT OR AN AGREEMENT.
   (C) THIS SUBDIVISION SHALL NOT APPLY TO ANY  AGREEMENT  TO  WAIVE  ANY
 RIGHT,  PENALTY, REMEDY, FORUM, OR PROCEDURE, INCLUDING ANY AGREEMENT TO
 ARBITRATE A CLAIM OR DISPUTE, AFTER  A  CLAIM  OR  DISPUTE  HAS  ARISEN.
 NOTHING  IN THIS SUBDIVISION SHALL AFFECT THE ENFORCEABILITY OR VALIDITY
 OF ANY OTHER PROVISION OF THE CONTRACT.
   4. THE PROGRAM LICENSEE OR ANY OF ITS WHOLLY  OWNED  SUBSIDIARIES  MAY
 NOT  SELL  OR  ASSIGN  AN  UNPAID DEBT TO AN INDEPENDENT THIRD PARTY FOR
 COLLECTION PURPOSES UNLESS THE DEBT HAS BEEN  DELINQUENT  FOR  AT  LEAST
 THIRTY DAYS.
   5.  THE  PROGRAM  LICENSEE  SHALL  DEVELOP  AND IMPLEMENT POLICIES AND
 PROCEDURES DESIGNED TO RESPOND TO QUESTIONS  RAISED  BY  APPLICANTS  AND
 BORROWERS  REGARDING  THEIR  PROGRAM  LOANS,  INCLUDING  THOSE INVOLVING
 REFERRAL PARTNERS, AND TO ADDRESS CUSTOMER COMPLAINTS AS SOON AS REASON-
 ABLY PRACTICABLE.
   § 339-E. DISCLOSURES, STATEMENTS AND RECEIPTS. 1. (A) IN  ADDITION  TO
 THE  DISCLOSURE  REQUIREMENTS OF ARTICLE NINE OF THIS CHAPTER, A PROGRAM
 LICENSEE SHALL DISCLOSE THE FOLLOWING TO THE CONSUMER IN WRITING,  IN  A
 TYPEFACE NO SMALLER THAN TWELVE-POINT TYPE, AT THE TIME OF APPLICATION:
   (I)  THE AMOUNT BORROWED; THE TOTAL DOLLAR COST OF THE PROGRAM LOAN TO
 THE CONSUMER IF THE PROGRAM LOAN IS PAID BACK ON TIME, INCLUDING THE SUM
 OF  THE  ORIGINATION  FEE,  PRINCIPAL  AMOUNT  BORROWED,  AND   INTEREST
 PAYMENTS;  THE  CORRESPONDING  ANNUAL  PERCENTAGE  RATE,  CALCULATED  IN
 ACCORDANCE WITH FEDERAL RESERVE BOARD REGULATION Z (12 C.F.R. 226);  THE
 PERIODIC PAYMENT AMOUNT; THE DELINQUENCY FEE SCHEDULE; AND THE FOLLOWING
 STATEMENT:  "REPAYING YOUR LOAN EARLY WILL LOWER YOUR BORROWING COSTS BY
 REDUCING THE AMOUNT OF INTEREST YOU WILL PAY. THIS LOAN HAS  NO  PREPAY-
 MENT PENALTY."
   (II)  A  STATEMENT  THAT  THE  CONSUMER  HAS  THE RIGHT TO RESCIND THE
 PROGRAM LOAN BY NOTIFYING THE PROGRAM LICENSEE OF THE CONSUMER'S  INTENT
 TO  RESCIND THE PROGRAM LOAN AND RETURNING THE PRINCIPAL ADVANCED BY THE
 END OF THE BUSINESS DAY FOLLOWING THE DATE THE PROGRAM LOAN  IS  CONSUM-
 MATED.
   (B)  A  PROGRAM LICENSEE MAY PROVIDE THE BORROWER WITH THE DISCLOSURES
 REQUIRED BY PARAGRAPH (A) OF THIS SUBDIVISION IN A MOBILE OR OTHER ELEC-
 TRONIC APPLICATION, ON WHICH THE SIZE OF THE TYPEFACE OF THE  DISCLOSURE
 CAN  BE  MANUALLY MODIFIED BY A PROSPECTIVE BORROWER, IF THE PROSPECTIVE
 BORROWER IS GIVEN THE OPTION TO PRINT THE DISCLOSURE IN A TYPEFACE OF AT
 LEAST TWELVE-POINT SIZE OR IS PROVIDED BY THE PROGRAM  LICENSEE  WITH  A
 HARDCOPY  OF  THE DISCLOSURE IN A TYPEFACE OF AT LEAST TWELVE-POINT SIZE
 BEFORE THE PROGRAM LOAN IS CONSUMMATED.
   (C) THE PROGRAM LOAN CONTRACT AND ALL WRITTEN DISCLOSURES  AND  STATE-
 MENTS  MAY  BE  PROVIDED  IN  ENGLISH  OR  ANOTHER LANGUAGE IN WHICH THE
 PROGRAM LOAN IS NEGOTIATED.
   2. AT THE TIME A REFERRAL PARTNER RECEIVES OR PROCESSES AN APPLICATION
 FOR A PROGRAM LOAN PURSUANT TO SECTION THREE  HUNDRED  THIRTY-NINE-F  OF

 A. 6511                             8
 
 THIS ARTICLE, THE REFERRAL PARTNER SHALL PROVIDE THE FOLLOWING STATEMENT
 TO  THE APPLICANT, ON BEHALF OF THE PROGRAM LICENSEE, IN NO SMALLER THAN
 TEN-POINT TYPE, AND MUST REQUEST THAT THE APPLICANT ACKNOWLEDGE  RECEIPT
 OF THE STATEMENT IN WRITING:
   "YOUR  LOAN  APPLICATION  HAS BEEN REFERRED TO US BY (NAME OF REFERRAL
 PARTNER). WE MAY PAY A  FEE  TO  (NAME  OF  REFERRAL  PARTNER)  FOR  THE
 SUCCESSFUL  REFERRAL  OF  YOUR LOAN APPLICATION. IF YOU ARE APPROVED FOR
 THE LOAN, (NAME OF PROGRAM LICENSEE) WILL BECOME  YOUR  LENDER.  IF  YOU
 HAVE  ANY  QUESTIONS  ABOUT  YOUR LOAN, NOW OR IN THE FUTURE, YOU SHOULD
 DIRECT THOSE QUESTIONS TO (NAME OF PROGRAM LICENSEE) BY (INSERT AT LEAST
 TWO DIFFERENT WAYS IN WHICH A BORROWER MAY CONTACT  THE  PROGRAM  LICEN-
 SEE).    IF YOU WISH TO REPORT A COMPLAINT ABOUT (NAME OF REFERRAL PART-
 NER) OR (NAME IF PROGRAM LICENSEE) REGARDING THIS LOAN TRANSACTION,  YOU
 MAY CONTACT THE DEPARTMENT OF FINANCIAL SERVICES AND FILE YOUR COMPLAINT
 ONLINE AT HTTP://WWW.DFS.NY.GOV."
   3.  A  REFERRAL  PARTNER  THAT  DISBURSES  LOAN PROCEEDS TO A BORROWER
 PURSUANT TO PARAGRAPH (J) OF SUBDIVISION THREE OF SECTION THREE  HUNDRED
 THIRTY-NINE-F  OF THIS ARTICLE SHALL DELIVER OR CAUSE TO BE DELIVERED TO
 THE BORROWER AT THE  TIME  LOAN  PROCEEDS  ARE  DISBURSED  A  PLAIN  AND
 COMPLETE RECEIPT SHOWING ALL OF THE FOLLOWING:
   (A) THE DATE OF DISBURSEMENT;
   (B) THE TOTAL AMOUNT DISBURSED:
   (C) THE CORRESPONDING LOAN ACCOUNT IDENTIFICATION; AND
   (D)  THE  FOLLOWING  STATEMENT,  PROMINENTLY  DISPLAYED IN A TYPE SIZE
 EQUAL TO OR GREATER THAN THE TYPE SIZE USED TO DISPLAY THE  OTHER  ITEMS
 ON  THE  RECEIPT:  "IF YOU HAVE ANY QUESTIONS ABOUT YOUR LOAN, NOW OR IN
 THE FUTURE, YOU SHOULD DIRECT THOSE QUESTIONS TO (NAME OF PROGRAM LICEN-
 SEE) BY (INSERT AT LEAST TWO DIFFERENT WAYS  IN  WHICH  A  BORROWER  MAY
 CONTACT THE PROGRAM LICENSEE)."
   4.  IN  ADDITION  TO  THE RECEIPT REQUIREMENTS IN ARTICLE NINE OF THIS
 CHAPTER, A PROGRAM LICENSEE OR ITS APPROVED REFERRAL PARTNER, IF  APPLI-
 CABLE,  MUST  MAKE  AVAILABLE  TO THE BORROWER BY ELECTRONIC OR PHYSICAL
 MEANS, AT THE TIME THAT A PAYMENT IS MADE BY THE BORROWER, A  PLAIN  AND
 COMPLETE RECEIPT OF PAYMENT. FOR AUDIT PURPOSES, A PROGRAM LICENSEE MUST
 MAINTAIN  AN  ELECTRONIC  RECORD  FOR  EACH  RECEIPT MADE AVAILABLE TO A
 BORROWER, WHICH MUST INCLUDE A COPY OF THE RECEIPT AND THE DATE AND TIME
 THAT THE RECEIPT WAS GENERATED. EACH RECEIPT OF PAYMENT MUST SHOW ALL OF
 THE FOLLOWING:
   (A) THE NAME OF THE BORROWER;
   (B) THE NAME OF THE REFERRAL PARTNER, IF APPLICABLE;
   (C) THE TOTAL PAYMENT AMOUNT RECEIVED;
   (D) THE DATE OF PAYMENT;
   (E) THE PROGRAM LOAN BALANCE  BEFORE  AND  AFTER  APPLICATION  OF  THE
 PAYMENT;
   (F) THE AMOUNT OF THE PAYMENT THAT WAS APPLIED TO PRINCIPAL, INTEREST,
 AND FEES;
   (G) THE TYPE OF PAYMENT MADE BY THE BORROWER; AND
   (H)  THE  FOLLOWING  STATEMENT,  PROMINENTLY  DISPLAYED IN A TYPE SIZE
 EQUAL TO OR GREATER THAN THE TYPE SIZE USED TO DISPLAY THE  OTHER  ITEMS
 ON THE RECEIPT: "IF YOU HAVE ANY QUESTIONS ABOUT YOUR LOAN NOW OR IN THE
 FUTURE, YOU SHOULD DIRECT THOSE QUESTIONS TOÀ... (NAME OF PROGRAM LICEN-
 SEE)  ...    BY ... (AT LEAST TWO DIFFERENT WAYS IN WHICH A BORROWER MAY
 CONTACT THE PROGRAM LICENSEE) ...."
   § 339-F. REFERRAL PARTNERS; PERMITTED SERVICES; PROHIBITED ACTIVITIES;
 COMPENSATION. 1.  A LICENSEE WHO IS APPROVED BY  THE  SUPERINTENDENT  TO

 A. 6511                             9
 
 PARTICIPATE  IN THE PROGRAM MAY USE THE SERVICES OF ONE OR MORE REFERRAL
 PARTNERS AS PROVIDED IN THIS ARTICLE.
   2.  ALL ARRANGEMENTS BETWEEN A PROGRAM LICENSEE AND A REFERRAL PARTNER
 MUST BE SPECIFIED IN A WRITTEN REFERRAL PARTNER  AGREEMENT  BETWEEN  THE
 PARTIES.  THE AGREEMENT MUST CONTAIN A PROVISION THAT THE REFERRAL PART-
 NER AGREES TO COMPLY WITH THIS SECTION AND ALL RULES ADOPTED UNDER  THIS
 SECTION  REGARDING  THE  ACTIVITIES  OF  REFERRAL PARTNERS, AND THAT THE
 SUPERINTENDENT HAS ACCESS TO THE REFERRAL PARTNER'S  BOOKS  AND  RECORDS
 PERTAINING TO THE REFERRAL PARTNER'S OPERATIONS UNDER THE AGREEMENT WITH
 THE PROGRAM LICENSEE IN ACCORDANCE WITH SUBDIVISION ONE OF SECTION THREE
 HUNDRED THIRTY-NINE-G OF THIS ARTICLE.
   3.  A  REFERRAL  PARTNER  MAY  PERFORM  ONE  OR  MORE OF THE FOLLOWING
 SERVICES FOR A PROGRAM LICENSEE:
   (A) DISTRIBUTING, CIRCULATING, USING, OR PUBLISHING PRINTED BROCHURES,
 FLYERS, FACTSHEETS, OR OTHER WRITTEN MATERIALS RELATING TO PROGRAM LOANS
 THAT THE PROGRAM LICENSEE MAY MAKE OR NEGOTIATE. THE  WRITTEN  MATERIALS
 MUST  BE REVIEWED AND APPROVED IN WRITING BY THE PROGRAM LICENSEE BEFORE
 BEING DISTRIBUTED, CIRCULATED, OR PUBLISHED;
   (B) PROVIDING WRITTEN FACTUAL INFORMATION ABOUT  PROGRAM  LOAN  TERMS,
 CONDITIONS,  OR  QUALIFICATION  REQUIREMENTS  TO  A PROSPECTIVE BORROWER
 WHICH HAVE BEEN EITHER PREPARED BY THE PROGRAM LICENSEE OR REVIEWED  AND
 APPROVED  IN  WRITING  BY  THE  PROGRAM LICENSEE. A REFERRAL PARTNER MAY
 DISCUSS THE INFORMATION WITH A PROSPECTIVE BORROWER IN GENERAL TERMS;
   (C) NOTIFYING A PROSPECTIVE BORROWER  OF  THE  INFORMATION  NEEDED  IN
 ORDER TO COMPLETE A PROGRAM LOAN APPLICATION;
   (D)  ENTERING  INFORMATION  PROVIDED  BY THE PROSPECTIVE BORROWER ON A
 PREPRINTED OR ELECTRONIC APPLICATION FORM OR ONTO A PREFORMATTED COMPUT-
 ER DATABASE;
   (E) ASSEMBLING CREDIT APPLICATIONS AND OTHER MATERIALS OBTAINED IN THE
 COURSE OF A CREDIT APPLICATION TRANSACTION FOR SUBMISSION TO THE PROGRAM
 LICENSEE;
   (F) CONTACTING THE PROGRAM LICENSEE  TO  DETERMINE  THE  STATUS  OF  A
 PROGRAM LOAN APPLICATION;
   (G)   COMMUNICATING  A  RESPONSE  THAT  IS  RETURNED  BY  THE  PROGRAM
 LICENSEE'S AUTOMATED UNDERWRITING SYSTEM TO A BORROWER OR A  PROSPECTIVE
 BORROWER;
   (H)  OBTAINING  A  BORROWER'S  SIGNATURE  ON DOCUMENTS PREPARED BY THE
 PROGRAM LICENSEE AND DELIVERING FINAL COPIES OF  THE  DOCUMENTS  TO  THE
 BORROWER;
   (I)  OPERATING  AN ELECTRONIC ACCESS POINT THROUGH WHICH A PROSPECTIVE
 BORROWER MAY DIRECTLY ACCESS THE WEBSITE  OF  THE  PROGRAM  LICENSEE  TO
 APPLY FOR A PROGRAM LOAN;
   (J)  DISBURSING  LOAN  PROCEEDS  TO  A  BORROWER,  IF  THIS  METHOD OF
 DISBURSEMENT IS ACCEPTABLE TO THE BORROWER SUBJECT TO  THE  REQUIREMENTS
 OF SUBDIVISION FOUR OF SECTION THREE HUNDRED THIRTY-NINE-E OF THIS ARTI-
 CLE.  A LOAN DISBURSEMENT MADE BY A REFERRAL PARTNER UNDER THIS SUBDIVI-
 SION IS DEEMED TO BE MADE BY THE PROGRAM LICENSEE ON THE DATE THE  FUNDS
 ARE DISBURSED OR OTHERWISE MADE AVAILABLE BY THE REFERRAL PARTNER TO THE
 BORROWER; OR
   (K)  RECEIVING A PROGRAM LOAN PAYMENT FROM THE BORROWER IF THIS METHOD
 OF PAYMENT IS ACCEPTABLE TO THE BORROWER, SUBJECT TO THE REQUIREMENTS OF
 SUBDIVISION FIVE OF SECTION THREE HUNDRED THIRTY-NINE-E OF THIS ARTICLE.
   4. (A) A PROGRAM LOAN PAYMENT MADE BY A BORROWER TO A REFERRAL PARTNER
 UNDER THIS SECTION MUST BE APPLIED TO THE BORROWER'S  PROGRAM  LOAN  AND
 DEEMED  RECEIVED  BY  THE PROGRAM LICENSEE AS OF THE DATE THE PAYMENT IS
 RECEIVED BY THE REFERRAL PARTNER.

 A. 6511                            10
 
   (B) A REFERRAL PARTNER THAT RECEIVES PROGRAM LOAN PAYMENTS UNDER  THIS
 SECTION  SHALL  DELIVER  OR CAUSE TO BE DELIVERED TO THE BORROWER AT THE
 TIME THAT THE PAYMENT IS MADE BY THE  BORROWER,  A  PLAIN  AND  COMPLETE
 RECEIPT  SHOWING ALL OF THE INFORMATION SPECIFIED IN SUBDIVISION FIVE OF
 SECTION THREE HUNDRED THIRTY-NINE-E OF THIS ARTICLE.
   5. A BORROWER WHO SUBMITS A PROGRAM LOAN PAYMENT TO A REFERRAL PARTNER
 UNDER  THIS  SECTION SHALL NOT BE LIABLE FOR ANY FAILURE OR DELAY BY THE
 REFERRAL PARTNER IN TRANSMITTING THE PAYMENT TO THE PROGRAM LICENSEE.
   6. A REFERRAL PARTNER THAT DISBURSES OR RECEIVES LOAN PAYMENTS  PURSU-
 ANT  TO  SUBDIVISION THREE OF THIS SECTION SHALL MAINTAIN RECORDS OF ALL
 DISBURSEMENTS MADE AND LOAN PAYMENTS RECEIVED FOR A PERIOD OF  AT  LEAST
 TWO  YEARS OR UNTIL ONE MONTH FOLLOWING THE COMPLETION OF AN EXAMINATION
 OF THE PROGRAM LICENSEE BY THE SUPERINTENDENT, WHICHEVER IS LATER.
   7. PROVIDING ANY NOTICE OR DISCLOSURE REQUIRED TO BE PROVIDED  TO  THE
 BORROWER  BY  THE PROGRAM LICENSEE, OTHER THAN THE NOTICE REQUIRED TO BE
 PROVIDED BY THE PROGRAM LICENSEE TO THE BORROWER PURSUANT TO SUBDIVISION
 THREE OF SECTION THREE HUNDRED THIRTY-NINE-E OF THIS ARTICLE. A  PROGRAM
 LICENSEE  THAT USES A REFERRAL PARTNER TO PROVIDE NOTICES OR DISCLOSURES
 TO BORROWERS SHALL MAINTAIN A RECORD OF WHICH  NOTICES  AND  DISCLOSURES
 EACH  REFERRAL  PARTNER  PROVIDES  TO  BORROWERS  ON ITS BEHALF, FOR THE
 PURPOSE OF FACILITATING THE COMMISSIONER'S EXAMINATION  OF  THE  PROGRAM
 LICENSEE.
   8. A REFERRAL PARTNER SHALL NOT ENGAGE IN ANY OF THE FOLLOWING PROHIB-
 ITED ACTIVITIES:
   (A)  PROVIDING  COUNSELING  OR  ADVICE  TO  A  BORROWER OR PROSPECTIVE
 BORROWER WITH RESPECT TO ANY LOAN TERM;
   (B) PROVIDING LOAN-RELATED MARKETING MATERIAL THAT HAS NOT  PREVIOUSLY
 BEEN  APPROVED  BY  THE  PROGRAM LICENSEE TO A BORROWER OR A PROSPECTIVE
 BORROWER;
   (C) NEGOTIATING A LOAN TERM BETWEEN A PROGRAM LICENSEE AND A  PROSPEC-
 TIVE BORROWER;
   (D)  OFFERING  INFORMATION PERTAINING TO A SINGLE PROSPECTIVE BORROWER
 TO MORE THAN ONE PROGRAM LICENSEE, EXCEPT  IF  A  PROGRAM  LICENSEE  HAS
 DECLINED  TO  OFFER  A PROGRAM LOAN TO A PROSPECTIVE BORROWER AND HAS SO
 NOTIFIED THAT PROSPECTIVE BORROWER IN WRITING, THE REFERRAL PARTNER  MAY
 THEN  OFFER  INFORMATION  PERTAINING TO A SINGLE PROSPECTIVE BORROWER TO
 ANOTHER PROGRAM LICENSEE WITH WHICH IT HAS A REFERRAL  PARTNER'S  AGREE-
 MENT; AND
   (E)  REQUIRING  A  BORROWER TO PAY ANY FEES OR CHARGES TO THE REFERRAL
 PARTNER OR TO ANY OTHER PERSON IN CONNECTION WITH A PROGRAM  LOAN  OTHER
 THAN THOSE PERMITTED UNDER THIS ARTICLE.
   9.  A  REFERRAL  PARTNER  SHALL COMPLY WITH ALL LAWS APPLICABLE TO THE
 PROGRAM LICENSEE THAT IMPOSE REQUIREMENTS UPON THE PROGRAM LICENSEE  FOR
 SAFEGUARDS FOR INFORMATION SECURITY.
   10.  IF  THE  LOAN APPLICANT HAS QUESTIONS ABOUT THE PROGRAM LOAN THAT
 THE REFERRAL PARTNER IS NOT PERMITTED TO ANSWER,  THE  REFERRAL  PARTNER
 SHALL  MAKE A GOOD FAITH EFFORT TO ASSIST THE APPLICANT IN MAKING DIRECT
 CONTACT WITH THE PROGRAM LICENSEE BEFORE THE  PROGRAM  LOAN  IS  CONSUM-
 MATED.
   11. THE PROGRAM LICENSEE MAY COMPENSATE A REFERRAL PARTNER PURSUANT TO
 THE  WRITTEN AGREEMENT BETWEEN THE LICENSEE AND THE REFERRAL PARTNER AND
 A COMPENSATION SCHEDULE THAT IS MUTUALLY AGREED TO BY THE PROGRAM LICEN-
 SEE AND THE REFERRAL PARTNER, SUBJECT TO THE REQUIREMENTS IN SUBDIVISION
 TWELVE OF THIS SECTION.
   12. THE COMPENSATION OF A REFERRAL PARTNER BY A PROGRAM LICENSEE SHALL
 BE SUBJECT TO ALL OF THE FOLLOWING REQUIREMENTS:

 A. 6511                            11
 
   (A) COMPENSATION MAY NOT BE PAID TO A REFERRAL PARTNER  IN  CONNECTION
 WITH A LOAN APPLICATION UNLESS THAT PROGRAM LOAN IS CONSUMMATED;
   (B)  COMPENSATION MAY NOT BE PAID TO A REFERRAL PARTNER BASED UPON THE
 PRINCIPAL AMOUNT OF THE PROGRAM LOAN;
   (C) COMPENSATION MAY NOT BE DIRECTLY OR  INDIRECTLY  PASSED  ON  TO  A
 BORROWER  THROUGH  A FEE OR OTHER COMPENSATION, OR A PORTION OF A FEE OR
 OTHER COMPENSATION CHARGED TO A BORROWER; AND
   (D) SUBJECT TO THE LIMITATIONS SET FORTH IN PARAGRAPHS  (A),  (B)  AND
 (C) OF THIS SUBDIVISION, THE TOTAL COMPENSATION PAID BY A PROGRAM LICEN-
 SEE  TO  A  REFERRAL  PARTNER  FOR THE SERVICES SPECIFIED IN SUBDIVISION
 THREE OF THIS SECTION SHALL NOT EXCEED THE SUM OF THE FOLLOWING:
   (I) SIXTY DOLLARS PER PROGRAM LOAN,  ON  AVERAGE,  ASSESSED  ANNUALLY,
 WHETHER  PAID  AT  THE TIME OF CONSUMMATION OF THE PROGRAM LOAN, THROUGH
 INSTALLMENTS, OR IN A MANNER OTHERWISE AGREED UPON BY THE PROGRAM LICEN-
 SEE AND THE REFERRAL PARTNER; AND
   (II) TWO DOLLARS PER PAYMENT  RECEIVED  BY  THE  REFERRAL  PARTNER  ON
 BEHALF  OF THE PROGRAM LICENSEE FOR THE DURATION OF THE PROGRAM LOAN, IF
 THE REFERRAL PARTNER RECEIVES BORROWER  LOAN  PAYMENTS  ON  THE  PROGRAM
 LICENSEE'S BEHALF IN ACCORDANCE WITH SUBDIVISION THREE OF THIS SECTION.
   (E)  NEITHER THE PROGRAM LICENSEE NOR ANY REFERRAL PARTNER MAY PASS ON
 TO A BORROWER, WHETHER DIRECTLY OR INDIRECTLY, ANY  ADDITIONAL  COST  OR
 OTHER  CHARGE  FOR  COMPENSATION  PAID  TO A REFERRAL PARTNER UNDER THIS
 PROGRAM.
   13. A PROGRAM LICENSEE THAT UTILIZES THE SERVICES OF A REFERRAL  PART-
 NER  MUST  NOTIFY THE SUPERINTENDENT, IN A FORM AND MANNER PRESCRIBED BY
 THE SUPERINTENDENT, WITHIN FIFTEEN DAYS AFTER ENTERING INTO  A  CONTRACT
 WITH A REFERRAL PARTNER REGARDING ALL OF THE FOLLOWING:
   (A)  THE NAME, BUSINESS ADDRESS, AND LICENSING DETAILS OF THE REFERRAL
 PARTNER AND ALL LOCATIONS AT WHICH THE  REFERRAL  PARTNER  WILL  PERFORM
 SERVICES UNDER THIS SECTION;
   (B)  THE  NAME  AND CONTACT INFORMATION OF AN EMPLOYEE OF THE REFERRAL
 PARTNER WHO IS KNOWLEDGEABLE ABOUT, AND HAS THE  AUTHORITY  TO  EXECUTE,
 THE REFERRAL PARTNER AGREEMENT;
   (C)  THE  NAME  AND CONTACT INFORMATION OF AN EMPLOYEE OF THE REFERRAL
 PARTNER WHO IS RESPONSIBLE FOR THAT REFERRAL PARTNER'S REFERRING  ACTIV-
 ITIES ON BEHALF OF THE PROGRAM LICENSEE; AND
   (D)  A  STATEMENT  BY  THE  PROGRAM LICENSEE THAT IT HAS CONDUCTED DUE
 DILIGENCE WITH RESPECT TO THE REFERRAL PARTNER AND  HAS  CONFIRMED  THAT
 NONE OF THE FOLLOWING APPLIES:
   (I)  THE  FILING OF A PETITION UNDER THE UNITED STATES BANKRUPTCY CODE
 FOR BANKRUPTCY OR REORGANIZATION BY THE REFERRAL PARTNER;
   (II) THE COMMENCEMENT OF  AN  ADMINISTRATIVE  OR  A  JUDICIAL  LICENSE
 SUSPENSION  OR REVOCATION PROCEEDING, OR THE DENIAL OF A LICENSE REQUEST
 OR RENEWAL, BY ANY STATE, THE DISTRICT OF COLUMBIA,  ANY  UNITED  STATES
 TERRITORY,  OR  ANY  FOREIGN COUNTRY IN WHICH THE REFERRAL PARTNER OPER-
 ATES, PLANS TO OPERATE, OR IS LICENSED TO OPERATE;
   (III) A FELONY INDICTMENT INVOLVING THE REFERRAL PARTNER OR AN  AFFIL-
 IATED  PARTY.  AS USED IN THIS SUBPARAGRAPH, THE TERM "AFFILIATED PARTY"
 MEANS A DIRECTOR, AN OFFICER, A RESPONSIBLE PERSON, AN  EMPLOYEE,  OR  A
 FOREIGN  AFFILIATE OF A REFERRAL PARTNER; OR A PERSON WHO HAS A CONTROL-
 LING INTEREST IN A REFERRAL PARTNER;
   (IV) THE FELONY CONVICTION, GUILTY PLEA, OR PLEA OF  NOLO  CONTENDERE,
 REGARDLESS  OF  ADJUDICATION,  OF  THE REFERRAL PARTNER OR AN AFFILIATED
 PARTY;
   (V) ANY SUSPECTED CRIMINAL ACT COMMITTED IN  THIS  STATE  OR  ANY  ACT
 COMMITTED  IN  ANOTHER  STATE  OR  THE  DISTRICT  OF COLUMBIA THAT WOULD

 A. 6511                            12
 
 CONSTITUTE A CRIMINAL ACT IF COMMITTED IN THE STATE OF NEW YORK RELATING
 TO ACTIVITIES REGULATED UNDER THIS CHAPTER BY A REFERRAL PARTNER;
   (VI)  NOTIFICATION  BY  A LAW ENFORCEMENT OR PROSECUTORIAL AGENCY THAT
 THE REFERRAL PARTNER IS UNDER CRIMINAL INVESTIGATION INCLUDING, BUT  NOT
 LIMITED  TO,  SUBPOENAS  TO  PRODUCE  RECORDS  OR TESTIMONY AND WARRANTS
 ISSUED BY A COURT OF COMPETENT JURISDICTION WHICH AUTHORIZE  THE  SEARCH
 AND  SEIZURE  OF  ANY  RECORDS RELATING TO A BUSINESS ACTIVITY REGULATED
 UNDER THIS CHAPTER; AND
   (VII) ANY OTHER INFORMATION REQUESTED BY THE SUPERINTENDENT.
   14. A REFERRAL PARTNER MUST PROVIDE THE PROGRAM LICENSEE WITH A  WRIT-
 TEN  NOTICE SENT BY REGISTERED MAIL WITHIN THIRTY DAYS OF ANY CHANGES TO
 THE INFORMATION SPECIFIED IN PARAGRAPHS (A) THROUGH (C)  OF  SUBDIVISION
 THIRTEEN  OF  THIS  SECTION OR THE OCCURRENCE OR KNOWLEDGE OF, WHICHEVER
 TIME PERIOD IS GREATER, ANY OF THE EVENTS SPECIFIED IN PARAGRAPH (D)  OF
 SUBDIVISION THIRTEEN OF THIS SECTION.
   15.  A  PROGRAM  LICENSEE  IS  RESPONSIBLE FOR ANY ACT OF ITS REFERRAL
 PARTNER IF THE PROGRAM LICENSEE SHOULD HAVE KNOWN  OF  THE  ACT  OR  HAD
 ACTUAL  KNOWLEDGE  THAT SUCH ACT IS A VIOLATION OF THIS SECTION, AND THE
 PROGRAM LICENSEE ALLOWED THE ACT TO  CONTINUE.  SUCH  RESPONSIBILITY  IS
 LIMITED  TO  CONDUCT  ENGAGED IN BY THE REFERRAL PARTNER PURSUANT TO THE
 AUTHORITY GRANTED TO IT BY  THE  PROGRAM  LICENSEE  UNDER  THE  CONTRACT
 BETWEEN THE REFERRAL PARTNER AND THE PROGRAM LICENSEE.
   16.  THE PROGRAM LICENSEE SHALL PAY TO THE SUPERINTENDENT, AT THE TIME
 IT FILES A REFERRAL PARTNER NOTICE WITH THE SUPERINTENDENT,  A  ONE-TIME
 NONREFUNDABLE  FEE  OF  THIRTY  DOLLARS  FOR  EACH  REFERRAL  PARTNER AS
 PRESCRIBED BY THE SUPERINTENDENT.
   § 339-G. EXAMINATIONS AND GROUNDS FOR  DISCIPLINARY  ACTION.  1.    TO
 ENSURE  THAT  THE  ACTIVITIES  OF THE PROGRAM LICENSEE ARE IN COMPLIANCE
 WITH THIS ARTICLE, THE SUPERINTENDENT MUST EXAMINE EACH PROGRAM LICENSEE
 AT LEAST ONCE EVERY TWENTY-FOUR MONTHS. THE SUPERINTENDENT  MAY  EXAMINE
 EACH PROGRAM LICENSEE MORE FREQUENTLY IN ACCORDANCE WITH AND PURSUANT TO
 ARTICLE  NINE  OF  THIS CHAPTER. THE SUPERINTENDENT MAY ALSO EXAMINE THE
 OPERATIONS OF EACH REFERRAL PARTNER TO ENSURE THAT THE ACTIVITIES OF THE
 PROGRAM LICENSEE AND THE REFERRAL PARTNER ARE IN  COMPLIANCE  WITH  THIS
 ARTICLE.
   2.  THE  PROGRAM LICENSEE SHALL PAY FOR THE COSTS OF ANY SUCH EXAMINA-
 TION IN THE AMOUNT DETERMINED BY THE SUPERINTENDENT.
   3. NOTWITHSTANDING SUBDIVISION ONE OF THIS SECTION, THE SUPERINTENDENT
 SHALL HAVE THE AUTHORITY TO WAIVE ONE  OR  MORE  PROGRAM  BRANCH  OFFICE
 EXAMINATIONS, IF THE SUPERINTENDENT DEEMS THAT THE PROGRAM BRANCH OFFICE
 EXAMINATIONS  ARE NOT NECESSARY FOR THE PROTECTION OF THE PUBLIC, DUE TO
 THE CENTRALIZED OPERATIONS OF THE  PROGRAM  LICENSEE  OR  OTHER  FACTORS
 ACCEPTABLE TO THE SUPERINTENDENT.
   4.  A  PROGRAM  LICENSEE WHO VIOLATES ANY APPLICABLE PROVISION OF THIS
 ARTICLE IS SUBJECT TO DISCIPLINARY ACTION PURSUANT TO  ARTICLE  NINE  OF
 THIS  CHAPTER.  SUBJECT  TO SUBDIVISION FIFTEEN OF SECTION THREE HUNDRED
 THIRTY-NINE-F OF THIS ARTICLE, A PROGRAM LICENSEE  IS  ALSO  SUBJECT  TO
 DISCIPLINARY  ACTION FOR A VIOLATION OF THIS ARTICLE COMMITTED BY ANY OF
 ITS REFERRAL PARTNERS.
   5. THE SUPERINTENDENT MAY TAKE ANY OF THE FOLLOWING ACTIONS AGAINST  A
 REFERRAL PARTNER WHO VIOLATES THE PROVISIONS OF THIS SECTION:
   (A)  DISQUALIFY  THE  REFERRAL  PARTNER FROM PERFORMING SERVICES UNDER
 THIS ARTICLE;
   (B) BAR THE REFERRAL PARTNER FROM PERFORMING SERVICES AT ONE  OR  MORE
 SPECIFIC LOCATIONS OF THAT REFERRAL PARTNER;

 A. 6511                            13
 
   (C)  TERMINATE  A  WRITTEN  AGREEMENT BETWEEN A REFERRAL PARTNER AND A
 PROGRAM LICENSEE;
   (D)  IMPOSE  AN ADMINISTRATIVE FINE NOT TO EXCEED ONE THOUSAND DOLLARS
 FOR EACH ACT OF THE REFERRAL PARTNER; AND
   (E) IF THE SUPERINTENDENT DEEMS THAT ACTION IN  THE  PUBLIC  INTEREST,
 PROHIBIT  THE  USE  OF  THAT  REFERRAL  PARTNER BY ALL PROGRAM LICENSEES
 ACCEPTED TO PARTICIPATE IN THE PROGRAM.
   § 339-H. PROGRAM REPORTING. 1. ON OR BEFORE APRIL FIRST OF EACH  YEAR,
 A  PROGRAM LICENSEE SHALL FILE A REPORT WITH THE SUPERINTENDENT CONTAIN-
 ING AGGREGATED OR ANONYMIZED DATA, WITHOUT REFERENCE TO  ANY  BORROWER'S
 NONPUBLIC PERSONAL INFORMATION OR ANY PROPRIETARY OR TRADE SECRET INFOR-
 MATION OF THE PROGRAM LICENSEE, ON EACH OF THE ITEMS SPECIFIED IN SUBDI-
 VISION FOUR OF THIS SECTION.
   2.  ON OR BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-ONE, AND AGAIN, ON
 OR BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-THREE,  THE  SUPERINTENDENT
 MUST  POST  A  REPORT  ON ITS WEBSITE SUMMARIZING THE USE OF THE PROGRAM
 BASED UPON THE INFORMATION CONTAINED IN THE REPORT FILED BY EACH PROGRAM
 LICENSEE UNDER SUBDIVISION ONE OF THIS SECTION.
   3. THE REPORT MUST STATE THE INFORMATION IN AGGREGATE  SO  AS  NOT  TO
 IDENTIFY DATA BY SPECIFIC PROGRAM LICENSEE OR REFERRAL PARTNER.
   4.  THE  SUPERINTENDENT'S  REPORT MUST SPECIFY THE PERIOD TO WHICH THE
 REPORT CORRESPONDS AND MUST INCLUDE, BUT SHALL NOT BE  LIMITED  TO,  THE
 FOLLOWING FOR THAT PERIOD:
   (A) THE NUMBER OF ENTITIES THAT APPLIED TO PARTICIPATE IN THE PROGRAM.
   (B) THE NUMBER OF ENTITIES ACCEPTED TO PARTICIPATE IN THE PROGRAM.
   (C)  THE  REASONS  FOR  REJECTING  APPLICATIONS  FOR PARTICIPATION, IF
 APPLICABLE. THIS INFORMATION MUST BE PROVIDED IN A MANNER THAT DOES  NOT
 IDENTIFY THE ENTITY OR ENTITIES REJECTED.
   (D) THE NUMBER OF PROGRAM LOAN APPLICATIONS RECEIVED BY PROGRAM LICEN-
 SEES  PARTICIPATING  IN  THE  PROGRAM,  THE NUMBER OF PROGRAM LOANS MADE
 PURSUANT TO THE PROGRAM, THE TOTAL AMOUNT LOANED,  THE  DISTRIBUTION  OF
 LOAN  LENGTHS  UPON  ORIGINATION, AND THE DISTRIBUTION OF INTEREST RATES
 AND PRINCIPAL AMOUNTS UPON ORIGINATION AMONG THOSE PROGRAM LOANS.
   (E) THE NUMBER OF BORROWERS WHO OBTAINED MORE THAN  ONE  PROGRAM  LOAN
 AND THE DISTRIBUTION OF THE NUMBER OF PROGRAM LOANS PER BORROWER.
   (F) THE AVERAGE CREDIT SCORE INCREASE BETWEEN SUCCESSIVE PROGRAM LOANS
 FOR BORROWERS (I) WITH NO CREDIT SCORE AND (II) WITH A CREDIT SCORE.  IN
 EACH  CASE THE LICENSEE MUST SPECIFY THE METHODOLOGY USED TO MEASURE THE
 INCREASE BASED ON INFORMATION FROM AT LEAST ONE MAJOR CREDIT BUREAU.
   (G) THE INCOME DISTRIBUTION OF  BORROWERS  UPON  PROGRAM  LOAN  ORIGI-
 NATION,  INCLUDING  THE  NUMBER  OF  BORROWERS WHO OBTAINED AT LEAST ONE
 PROGRAM LOAN AND WHO RESIDED IN A LOW-INCOME OR  MODERATE-INCOME  CENSUS
 TRACT AT THE TIME OF THEIR LOAN APPLICATIONS.
   (H) THE NUMBER OF BORROWERS WHO OBTAINED PROGRAM LOANS FOR THE FOLLOW-
 ING  PURPOSES,  BASED  ON  BORROWER  RESPONSES AT THE TIME OF THEIR LOAN
 APPLICATIONS INDICATING THE PRIMARY PURPOSE FOR WHICH THE  PROGRAM  LOAN
 WAS OBTAINED:
   (I) PAY MEDICAL EXPENSES;
   (II) PAY FOR VEHICLE REPAIR OR A VEHICLE PURCHASE;
   (III) PAY BILLS;
   (IV) CONSOLIDATE DEBT;
   (V) BUILD OR REPAIR CREDIT HISTORY; AND
   (VI) PAY OTHER EXPENSES.
   (I)  THE  NUMBER  OF  BORROWERS  WHO  SELF-REPORT THAT THEY HAD A BANK
 ACCOUNT AT THE TIME OF THEIR LOAN APPLICATION AND THE NUMBER OF  BORROW-

 A. 6511                            14
 
 ERS WHO SELF-REPORT THAT THEY DID NOT HAVE A BANK ACCOUNT AT THE TIME OF
 THEIR LOAN APPLICATION.
   (J)  THE  NUMBER  AND TYPE OF REFERRAL PARTNERS USED BY PROGRAM LICEN-
 SEES.
   (K) THE NUMBER AND PERCENTAGE OF BORROWERS WHO OBTAINED  ONE  OR  MORE
 PROGRAM  LOANS  ON  WHICH  DELINQUENCY  CHARGES WERE ASSESSED, THE TOTAL
 AMOUNT OF DELINQUENCY CHARGES  ASSESSED,  AND  THE  AVERAGE  DELINQUENCY
 CHARGE  ASSESSED  BY  DOLLAR AMOUNT AND AS A PERCENTAGE OF THE PRINCIPAL
 AMOUNT LOANED.
   (L) THE PERFORMANCE OF PROGRAM LOANS UNDER THE PROGRAM AS REFLECTED BY
 ALL OF THE FOLLOWING:
   (I) THE NUMBER AND PERCENTAGE OF BORROWERS WHO  EXPERIENCED  AT  LEAST
 ONE  DELINQUENCY  LASTING  BETWEEN  SEVEN  AND  TWENTY-NINE DAYS AND THE
 DISTRIBUTION OF PRINCIPAL LOAN AMOUNTS CORRESPONDING TO THOSE DELINQUEN-
 CIES;
   (II) THE NUMBER AND PERCENTAGE OF BORROWERS WHO EXPERIENCED  AT  LEAST
 ONE  DELINQUENCY  LASTING  BETWEEN  THIRTY  AND  FIFTY-NINE DAYS AND THE
 DISTRIBUTION OF PRINCIPAL LOAN AMOUNTS CORRESPONDING TO THOSE DELINQUEN-
 CIES; AND
   (III) THE NUMBER AND PERCENTAGE OF BORROWERS WHO EXPERIENCED AT  LEAST
 ONE DELINQUENCY LASTING SIXTY DAYS OR MORE AND THE DISTRIBUTION OF PRIN-
 CIPAL LOAN AMOUNTS CORRESPONDING TO THOSE DELINQUENCIES.
   (M)  THE  NUMBER  AND  TYPES OF VIOLATIONS OF THIS ARTICLE BY REFERRAL
 PARTNERS WHICH WERE DOCUMENTED BY THE SUPERINTENDENT.
   (N) THE NUMBER AND TYPES OF VIOLATIONS  OF  THIS  ARTICLE  BY  PROGRAM
 LICENSEES WHICH WERE DOCUMENTED BY THE SUPERINTENDENT.
   (O)  THE NUMBER OF TIMES THAT THE SUPERINTENDENT DISQUALIFIED A REFER-
 RAL PARTNER FROM PERFORMING SERVICES, BARRED  A  REFERRAL  PARTNER  FROM
 PERFORMING  SERVICES  AT  ONE OR MORE SPECIFIC LOCATIONS OF THE REFERRAL
 PARTNER, TERMINATED A WRITTEN AGREEMENT BETWEEN A REFERRAL PARTNER AND A
 PROGRAM LICENSEE, OR IMPOSED AN ADMINISTRATIVE PENALTY.
   (P) THE NUMBER OF COMPLAINTS RECEIVED BY THE  SUPERINTENDENT  ABOUT  A
 PROGRAM  LICENSEE  OR  A  REFERRAL  PARTNER  AND  THE  NATURE  OF  THOSE
 COMPLAINTS.
   § 4. This act shall take effect on the one hundred eightieth day after
 it shall have become a law and shall expire and be deemed repealed  five
 years  after  such  date; provided, however, that effective immediately,
 the addition, amendment and/or repeal of any rule or  regulation  neces-
 sary  for  the  implementation  of  this  act  on its effective date are
 authorized to be made or completed on or before such effective date.