Section 1480.160  Applications for Commission Approval of Recovery Manager Certification Programs

a)         Applications for Commission approval of a recovery manager certification program shall be filed on forms and contain information prescribed by the Commission.  Incomplete or incorrect applications shall be refused or rejected by the Commission. 

b)         Applications for Commission approval of a recovery manager certification program shall be accompanied by an application fee.

c)         The Commission shall approve by resolution any recovery manager certification program it deems consistent with the purposes of the Act.

d)         At a minimum, the certification program shall include training in the following areas:

1)         The Act;

2)         This Part;

3)         Illinois criminal law relating to crimes against persons or property;

4)         Recovery of collateral;

5)         Recordkeeping; and

6)         Ethical and professional conduct.

e)         The certification program shall be updated to reflect changes in the areas of law listed in subsection (d).  Failure to update the certification program with current changes in the law may cause the approval to be withdrawn by the Commission.