§ 47-18-5501. Short Title
This part shall be known and may be cited as the “Uniform Debt-Management Services Act.”
§ 47-18-5502. Part Definitions
In this part: “Administrator” means the commissioner of commerce and insurance; “Affiliate”: With respect to an individual, means: The spouse of the individual; A sibling of the individual or the spouse of a sibling; An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the […]
§ 47-18-5503. Exempt Agreements and Persons
This part does not apply to: An agreement with an individual whom the provider has no reason to know resides in this state at the time of the agreement; A provider to the extent that the provider: Provides or agrees to provide debt-management, educational or counseling services to an individual whom the provider has no […]
§ 47-18-5504. Registration Required — Maintenance and Publication of List of Registered Providers
Except as otherwise provided in subsection (b), a provider may not provide debt-management services to an individual whom the provider reasonably should know resides in this state at the time the provider agrees to provide the services, unless the provider is registered under this part. If a provider is registered under this part, subsection (a) […]
§ 47-18-5505. Application for Registration — Form, Fee, and Accompanying Documents
An application for registration as a provider must be in a form prescribed by the administrator. Subject to adjustment of dollar amounts pursuant to § 47-18-5532(f), an application for registration as a provider must be accompanied by: The fee established by the administrator; The bond required by § 47-18-5513; Identification of all trust accounts required […]
§ 47-18-5506. Application for Registration — Required Information
An application for registration must be signed under oath and include: The applicant’s name, principal business address and telephone number, and all other business addresses in this state, electronic-mail addresses and Internet web site addresses; All names under which the applicant conducts business; The address of each location in this state at which the applicant […]
§ 47-18-5507. Obligation to Update Information in Application for Registration
An applicant or registered provider shall notify the administrator within ten (10) days after a change in the information specified in § 47-18-5505(b)(4) or (b)(6) or § 47-18-5506(1), (3), (6), (12) or (13).
§ 47-18-5508. Public Information in Application for Registration
Except for the information required by § 47-18-5506(7), (14), and (17), and the addresses required by § 47-18-5506(4), the administrator shall make the information in an application for registration as a provider available to the public.
§ 47-18-5509. Issuance or Denial of Certificate of Registration
Except as otherwise provided in subsections (c) and (d), the administrator shall issue a certificate of registration as a provider to a person that complies with §§ 47-18-5505 and 47-18-5506. If an applicant has otherwise complied with §§ 47-18-5505 and 47-18-5506, including a timely effort to obtain the information required by § 47-18-5506(14), but the […]
§ 47-18-5510. Timing of Certificate of Registration
The administrator shall approve or deny an initial registration as a provider within one hundred twenty (120) days after an application is filed. In connection with a request pursuant to § 47-18-5506(19) for additional information, the administrator may extend the one hundred twenty-day period for not more than sixty (60) days. Within seven (7) days […]
§ 47-18-5511. Renewal of Registration
A provider must obtain a renewal of its registration annually. An application for renewal of registration as a provider must be in a form prescribed by the administrator, signed under oath; and: Be filed no more than sixty (60) days before the registration expires; Be accompanied by the fee established by the administrator and the […]
§ 47-18-5512. Registration in Another State
If a provider holds a license or certificate of registration in another state authorizing it to provide debt-management services, the provider may submit a copy of that license or certificate and the application for it instead of an application in the form prescribed by § 47-18-5505(a), § 47-18-5506 or § 47-18-5511(b). The administrator shall accept […]
§ 47-18-5513. Bond Requirement
Except as otherwise provided in § 47-18-5514, a provider that is required to be registered under this part shall file a surety bond with the administrator, which must: Be in effect during the period of registration and for two (2) years after the provider ceases providing debt-management services to individuals in this state; and Run […]
§ 47-18-5514. Substitute for Bond Requirement
Instead of the surety bond required by § 47-18-5513, a provider may deliver to the administrator, in the amount required by § 47-18-5513(b), and, except as otherwise provided in subdivision (a)(2)(A), payable or available to this state and to individuals who reside in this state when they agree to receive debt-management services from the provider, […]
§ 47-18-5515. Requirement of Good Faith
A provider shall act in good faith in all matters under this part.
§ 47-18-5516. Customer Service
A provider that is required to be registered under this part shall maintain a toll-free communication system, staffed at a level that reasonably permits an individual to speak to a certified counselor, certified debt specialist or customer-service representative, as appropriate, during ordinary business hours.
§ 47-18-5517. Prerequisites for Providing Debt-Management Services
Before providing debt-management services, a registered provider shall give the individual an itemized list of goods and services and the charges for each. The list must be clear and conspicuous, be in a record the individual may keep whether or not the individual assents to an agreement and describe the goods and services the provider […]
§ 47-18-5518. Communication by Electronic or Other Means
In this section: “Consumer” means an individual who seeks or obtains goods or services that are used primarily for personal, family or household purposes; and “Federal act” means the electronic signatures in the Global and National Commerce Act, compiled in 15 U.S.C. § 7001 et seq. A provider may satisfy the requirements of § 47-18-5517, […]
§ 47-18-5519. Form and Contents of Agreement
An agreement must: Be in a record; Be dated and signed by the provider and the individual; Include the name of the individual and the address where the individual resides; Include the name, business address and telephone number of the provider; Be delivered to the individual immediately upon formation of the agreement; and Disclose: The […]
§ 47-18-5520. Cancellation of Agreement — Waiver
An individual may cancel an agreement before midnight of the third business day after the individual assents to it, unless the agreement does not comply with subsection (b) or § 47-18-5519 or § 47-18-5528, in which event the individual may cancel the agreement within thirty (30) days after the individual assents to it. To exercise […]