Title 62, Professions, Businesses and Trades

(a) No person shall commence, conduct or operate any collection service business in this state unless the person holds a valid collection service license issued by the board under this chapter or prior state law. (b) Regular employees of licensed collection services need not proc…

(1) An application for a collection service license shall be submitted on the form prescribed by the board and shall be accompanied by:(1) A nonrefundable application fee as set by the board;(2) A current personal or corporate financial statement prepared by a licensed public acc…

(1) No license to conduct or operate a collection service business in this state shall be issued to any person:(1) Who is not trustworthy;(2) Who does not have a proven reputation for honesty and fair dealings;(3) Who is not financially responsible;(4) Who, in the opinion of the …

The board shall be promptly notified in writing of any change in address, management or ownership of a collection service business.

(a) The board shall grant a collection service license to a qualified applicant upon receipt of a fee as set by the board. The fee shall not be prorated for any portion of a year. (b) The collection service license shall be prominently displayed at all times at the licensee's pla…

(a) The bond posted or the certificate of deposit assigned in accordance with this chapter shall be in full force and effect during all periods and in all places and areas in which the licensee is doing business within this state as a collection service. (b) If any collection ser…

(a) All licenses or identification cards shall expire the last day of the twenty-fourth month from issuance or renewal. (b) Application for renewal of a collection service license shall be submitted to the board prior to the expiration date and shall be accompanied by:(1) A fee a…

(a) No license shall be transferable to another person. (b) Upon change of ownership of a collection service, the new owner shall apply for and obtain a new collection service license before commencing or continuing business.

(1) Each collection service licensee shall:(1) Keep and retain for a period of three (3) years accurate individual records of collections, including the amount and date of payment and the names of the debtor and creditor;(2) Issue, upon request, individual collection receipts, sh…

(a) (1) The board may, upon its own motion, or shall, upon the sworn complaint in writing of any person, investigate any collection service or licensee operating in the state.(2) The board shall transmit any such complaint to the accused licensee. The board may transmit any such …

(a) Upon the expiration or revocation of any license held under this chapter, the licensee shall:(1) Within ninety (90) days, return or assign all uncollected accounts to the licensee's clients or their order;(2) Not charge or receive any fee or compensation for the return or ass…

(a) A nonresident of this state who is regularly engaged in the collection business in another state may obtain a license as a collection service in this state by complying with this chapter; provided, that the nonresident applicant maintains a place of business in the other stat…

Any person who places an account with a collection service is responsible for determining that the service is licensed as required by this chapter.

Any financial information submitted by applicants for or holders of licenses pursuant to this chapter shall be treated as confidential and shall be used by the board only for the purpose of determining qualifications to engage in the collection service business.

(1) Nothing in this chapter shall be construed to permit:(1) The use or sale of forms that simulate legal forms so as to deceive a debtor or the general public;(2) The unauthorized practice of law; or(3) A collection agency to notify a credit bureau or credit agency concerning th…

(a) Any licensee may temporarily retire the licensee's license for a period of three (3) years by giving written notice of such intent and paying each year an annual retirement fee of ten dollars ($10.00) to the board. (b) Any license not activated within the three-year period be…

The Uniform Administrative Procedures Act, compiled in title 4, chapter 5, governs all matters and procedures respecting the hearing and judicial review of any contested case arising under this chapter.

A willful violation of this chapter or of any rule lawfully promulgated under this chapter is a Class C misdemeanor.

(a) A collection service, holding a valid license under this chapter, may bill, collect or file suit in its own name, as the real party in interest, on any form of indebtedness, so long as the owner or holder of the indebtedness has assigned this limited right to the collection s…