§701. Business prohibited 1. Budget planning prohibited. Except as provided in subsection 2, a person, firm, association or corporation may not engage in the business of budget planning on behalf of a consumer. [PL 1999, c. 560, §1 (NEW).] 2. Exceptions. This chapter does not apply to: A. A person admitted to the […]
§702. Budget planning, defined “Budget planning” means the making of a contract with a particular debtor, when the debtor agrees to pay a certain amount periodically to the person engaged in the budget planning, who shall distribute the same to a certain specified creditor or among certain specified creditors in accordance with a plan agreed […]
§703. Penalty Whoever, either individually or as the officer or employee of any person, corporation or association, violates any of the provisions of section 701 shall be punished by a fine of not more than $500, or by imprisonment for not more than 6 months, or by both.
