§ 110.104 CONDUCT OF LICENSEE.
   Every licensee:
   (A)   Shall maintain in the business such books, accounts, and records as will enable the City Finance Director or the City Solicitor to determine whether such licensee is complying with the sections of this subchapter. Such books, accounts, and records shall be preserved for at least three years after making the final entry on any contract recorded therein.
   (B)   Shall not make, or cause to be made, any false, misleading, or deceptive statements, or representation (including advertising) with regard to the licensee's fee or of the nature of the services to be provided.
   (C)   Shall take no fee nor offer a contract for signature to the contract debtor until a debt program agreed upon by the licensee and the debtor has been arranged, and further, not until at least two-thirds of the creditors in numbers and amounts have been notified of the licensee-debtor relationship and of the proposed debt and payment program.
   (D)   Shall notify the contract debtor immediately if any creditor or creditors refuse to accept or agree to the debt plan and the liquidation of the indebtedness of the contract debtor. The debts owed to those creditors refusing to accept or agree to the debt plan shall not be included in the contract between the debtor and the licensee.
   (E)   The licensee may charge a maximum commencement fee which shall be no more than $25.
   (F)   Shall not assess the contract debtor a cancellation fee or default on performance of the contract fee.
   (G)   Shall, upon cancellation by contract debtor of the contract, notify immediately in writing all the creditors.
   (H)   Shall deliver to every contract debtor, at the time the contract is made, a copy of the contract, showing the date executed, the rate of charge, the amount of debts agreed by the contract debtor to be due to creditors, and in addition within five days, shall deliver to the contract debtor a list containing the names and addresses of the creditors and amounts due to each.
   (I)   Shall not withhold out of any payment made by the contract debtor more than l5% of the contract monthly payment. No debt shall be included within the total contract indebtedness without the debtor's express written consent.
   (J)   Shall deposit all debtor's funds in the escrow account and may withdraw the fees as the payments are received by the licensee. The licensee shall distribute to the creditors of the contract debtor all money received by the licensee from the debtor in accordance with the terms of the debt program and in accordance with the licensee's arrangements with the creditors but in any event within 60 days after receipt of funds from the contract debtor, unless funds are insufficient to cover payment.
   (K)   Shall give to the contract debtor a dated receipt for each payment, at the time of payment.
   (L)   The licensee shall provide the contract debtor with a copy of this section and shall file the acknowledgment of receipt signed and dated by the debtor as a part of the records.
(Ord. 34-l983, passed 7-5-83) Penalty, see § 110.999