§ 47-18-1001. Short Title

This part shall be known and may be cited as the “Tennessee Credit Services Businesses Act.”

§ 47-18-1002. Part Definitions

As used in this part, unless the context otherwise requires: “Attorney general” means the office of the attorney general and reporter; “Commissioner” means the commissioner of commerce and insurance; “Consumer” means any individual who is solicited to purchase or who purchases the services of a credit services business; “Consumer report” means any written, oral, or […]

§ 47-18-1003. Prohibited Practices

A credit services business, and its salespersons, agents and representatives, and independent contractors who sell or attempt to sell the services of a credit services business, shall not do any of the following: Charge or receive any money or other valuable consideration prior to full and complete performance of the services that the credit services […]

§ 47-18-1004. Information Statement Required — Record on File

Before the execution of a contract or agreement between a consumer and a credit services business or the receipt by the credit services business of any money or other valuable consideration, whichever occurs first, the credit services business shall provide the consumer with an information statement in writing containing all of the information required under […]

§ 47-18-1005. Contents of Information Statement

The information statement required under § 47-18-1004 shall include all of the following: A complete and accurate statement of the consumer’s right to review any file on the consumer maintained by any consumer reporting agency, and the right of the consumer to receive a copy of a consumer report containing all information in that file […]

§ 47-18-1006. Contract — Cancellation Notice

Every contract between a consumer and a credit services business for the purchase of the services of the credit services business shall be in writing, dated, signed by the consumer, and shall include all of the following: A conspicuous statement in size equal to at least ten (10) point bold type, in immediate proximity to […]

§ 47-18-1007. Violations — Proof of Exemption

Any breach by a credit services business of a contract under this part, or of any obligation arising under it, constitutes a violation of this part. Any contract for services from a credit services business that does not comply with the applicable provisions of this part shall be void and unenforceable as contrary to the […]

§ 47-18-1008. Damages, Private Actions

In any private action, any credit services business, which willfully fails to comply with any requirement imposed under this part with respect to any consumer, is liable to the consumer in an amount equal to the sum of: Any actual damages sustained by the consumer as a result of the failure, or any amount paid […]

§ 47-18-1009. Limitation of Actions

A private action to enforce any liability created under this part may be brought within two (2) years from the date on which the liability arises, except that where a defendant has materially and willfully misrepresented any information required under this part to be disclosed to a consumer, and the information so misrepresented is material […]

§ 47-18-1010. Violation of Consumer Protection Act — Institution of Proceedings

A violation of this part constitutes a violation of the Tennessee Consumer Protection Act of 1977, compiled in part 1 of this chapter. For the purpose of application of the Tennessee Consumer Protection Act of 1977, any violation of this part shall be construed to constitute an unfair or deceptive act or practice affecting the […]

§ 47-18-1011. Bond

In order to provide a degree of protection to customers of credit services businesses, each credit services business shall post a bond in an amount as determined by the commissioner with the department of commerce and insurance for each location conducting business in this state. The bond shall be made with a bond issued by […]