As used in this chapter, unless the context otherwise requires, “collection agency” means any person, partnership, corporation, association, limited liability corporation, or firm which engages in the collection of delinquent accounts, bills, or other forms of indebtedness owed or due or asserted to be owed or due to another or any person, partnership, corporation, association, […]
(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 […]
(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 […]
(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 […]
When any person, partnership, corporation, or association engages in the business activities of a collection agency without a valid license issued under this chapter or has had the license revoked, suspended, or refused, in accordance with the provisions of this chapter, the State Board of Collection Agencies may petition the circuit court in the jurisdiction […]
