Title 14, Uniform Consumer Credit Code

An agency shall have at least ten (10) members.

An agency, before engaging in credit counseling, shall give notice to the Administrator of its intention to do so. The notice shall state: (1) name of the agency; (2) name in which business is transacted if different from (1); (3) address of principal office and all other offices…

The agency shall file with the Administrator a bond to be approved by it, in which the agency shall be the obligor, in the sum of Five Thousand Dollars ($5,000.00), with one or more sureties, whose liability as sureties need not exceed that sum in the aggregate. The bonds shall r…

Each agency engaged in credit counseling shall preserve its books, accounts and records for at least two (2) years after making the final entry on any transaction recorded therein.

An agency shall have the powers and privileges: COL120106 (1) to provide specialized credit counseling service to individuals of the general public in the area of consumer credit; (2) to handle moneys or other property as agent or act as trustee in relation to the care, custody o…

An agency shall not commingle moneys or property received by it from debtors with the agency's own moneys or property. An agency shall maintain a separate account in which all moneys received from or held for debtors for the benefit of creditors shall be deposited and in which al…

A schedule of fees to be charged by an agency shall be submitted to the Administrator. The schedule of fees may not be inconsistent with or inappropriate to the character and function of the agency as a nonprofit agency hereunder. COL120106

Any person who willfully violates any provision of this Chapter is guilty of a misdemeanor.

Credit counseling by an agency in accordance with the provisions of this Chapter shall not constitute practice, appearance or advice as an attorney-at-law or as an attorney and counselor-at-law, the practice of law or the rendering of legal services. CROSS-REFERENCES: For the lat…