Section 41-A. Continuing education requirement

1. Every person licensed as
  a collateral loan broker pursuant to this article  shall,  between  June
  thirtieth,  two thousand seven and June twenty-ninth, two thousand nine,
  and during every two year period  thereafter,  complete  not  less  than
  twelve  hours of continuing education instruction offered in a course or
  program approved by any mayor  or  licensing  authority  which  licenses
  collateral  loan  brokers  pursuant  to this article. In cities having a
  population of one million or more, the commissioner of consumer  affairs
  shall,  on  or  before January thirty-first, two thousand seven, approve
  not less than one twelve hour continuing education instruction course or
  program for collateral loan brokers and not less  than  one  eight  hour
  continuing  education  instruction  course  or  program  for managers of
  collateral loan broker businesses, as required  by  subdivision  two  of
  this  section.  Every  such  course  or  program shall be made available
  through at least one distance  learning  methodology,  such  as  written
  materials and questionnaires, internet courses or other electronic means
  and  shall  also  be  made  available  through  seminars  or  workshops,
  commencing on or before June thirtieth, two thousand seven. Every  mayor
  and   licensing   authority   shall  consult  with  one  or  more  trade
  associations representing collateral loan brokers prior to approving any
  continuing education instruction course  or  program  pursuant  to  this
  section.
    2.  Every  collateral  loan  broker  which  employs  more  than  three
  employees,  shall  designate  one  individual  as  the  manager  of  the
  collateral  loan  broker  business.  Upon  such designation the mayor or
  licensing authority, which licenses the collateral loan broker, shall be
  provided notice by such broker of the individual who has been designated
  as manager of the business. Every individual designated as  the  manager
  of  a collateral loan broker business shall, between June thirtieth, two
  thousand seven and June twenty-ninth,  two  thousand  nine,  and  during
  every  two year period thereafter, complete not less than eight hours of
  continuing education instruction for such managers offered in  a  course
  or  program  approved by any mayor or licensing authority which licenses
  collateral loan brokers pursuant to this article.
    3. Each collateral loan broker shall  designate  a  manager  for  each
  location  at  which  such broker conducts business and employs more than
  three employees and every such manager shall comply with the  provisions
  of subdivision two of this section.
    4. Each approved provider of continuing education instruction pursuant
  to  this  section  and  each  collateral  loan broker shall maintain the
  records of the provision or receipts of such instruction  for  not  less
  than four years.
    5.  The failure to comply with the provisions of this section shall be
  grounds for the suspension, revocation or refusal to issue  any  license
  issued pursuant to this article.