§ 17-24-505. Harassment or abuse
(a) A debt collector may not engage in a conduct the natural consequence of which is to harass, oppress, or abuse a person in connection with the collection of a debt. (b) Without limiting the general application of subsection (a) of this section, the following conduct is a violation of this section: (1) The use […]
§ 17-24-304. Expiration and renewal
(a) All collection agency licenses and collection agency employee licenses shall expire annually on June 30. (b) All licensees under this chapter shall apply for the renewal of their licenses, on forms to be prescribed by the State Board of Collection Agencies, on or before July 1 of the fiscal year for which the licenses […]
§ 17-24-305. Fees — Disposition
(a) The State Board of Collection Agencies may charge an annual license fee not to exceed one hundred twenty-five dollars ($125) for licensing each collection agency and an annual fee of twenty dollars ($20.00) effective September 1, 2013, for registering each employee of the licensed collection agency who as an employee solicits, collects, or attempts […]
§ 17-24-306. Bond
(a) The State Board of Collection Agencies shall require each licensee to secure a surety bond in an amount not less than ten thousand dollars ($10,000) nor more than fifty thousand dollars ($50,000) for each location, with the security on the bond to be approved by the board. (b) The aggregate liability of the surety […]
§ 17-24-307. Grounds for revocation, suspension, or refusal
The State Board of Collection Agencies shall have the authority to revoke, suspend, or refuse to issue a license for violation of this chapter, or upon receipt of evidence as follows: (1) False or misrepresented statements on application; (2) Sale or transfer of ownership of agency; (3) Aiding or abetting any unlicensed person to engage […]
§ 17-24-308. Revocation, suspension, or refusal — Procedure
(a) (1) Upon the receipt of evidence of any violation, the State Board of Collection Agencies shall order a hearing to be held. (2) All interested parties shall be apprised, at least twenty (20) days before the hearing, as to the time and place of the hearing. (3) The board shall have authority to summon […]
§ 17-24-309. Collection charges — Limits
(a) No collection agency mentioned in § 17-24-101 shall charge as a collection charge or fee an amount in excess of fifty percent (50%) of the total amount actually collected on all accounts for any one (1) client, nor more than fifty percent (50%) of the total amount actually collected on any one (1) account, […]
§ 17-24-102. Exemptions
(a) This chapter does not apply to: (1) Regular employees of a single creditor; (2) Banks; (3) Trust companies; (4) Savings and loan associations; (5) Abstract companies doing an escrow business; (6) Licensed real estate brokers and agents when the claims or accounts being handled by the broker or agent are related to or in […]
§ 17-24-103. Penalties — Definition
(a) (1) A collection agency that engages in the business activities of a collection agency without a license issued under this chapter may be fined not less than fifty dollars ($50.00) nor more than five hundred dollars ($500). (2) Each day of a violation of this chapter is a separate offense. (3) (A) If a […]
§ 17-24-104. Sanctions
(a) A collection agency that fails to remit to its client funds collected for the client within the calendar month following the month of collection, shall not be entitled to a collection fee and shall remit the total funds collected to the client. (b) If a collection agency fails to remit funds collected to its […]