What general requirements must be met to become licensed as a consumer collection agency?
• Application: An updated application must be completed, signed, and notarized in its entirety. This application must be signed by an officer of the company. • Bond: Per Section 36a-802 of the Connecticut General Statutes, as amended by Public Act 09-208, effective 10-1-09, the bond requirement for consumer collection agencies increases from $5,000 to $25,000. New applicants will be required to submit a new bond form in the amount of $25,000 prior to the issuance of any license effective 10-1-09 or later. Existing licensees may complete a new bond form or request the surety to issue a rider increasing the bond amount from $5,000 to $25,000. • Financial Statement: A financial statement must be prepared by a Certified Public Accountant or a Public Accountant. Financial statements must be of a date not more than six months prior to the filing of the application and reflect tangible net worth. The accuracy of the financial statement must be sworn before a notary public using the attestatio
