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[Utah Code Table of Contents]
[TITLE 12. Table of Contents]
12-1-1 Registration and bond required.
No person shall conduct a collection agency, collection
bureau, or collection office in this state, or engage in
this state in the business of soliciting the right to collect
or receive payment for another of any account, bill, or other
indebtedness, or advertise for or solicit in print the right
to collect or receive payment for another of any account,
bill, or other indebtedness, unless at the time of conducting
the collection agency, collection bureau, collection office,
or collection business, or of advertising or soliciting,
that person or the person for whom he may be acting as agent,
is registered with the Division of Corporations and Commercial
Code and has on file a good and sufficient bond as hereinafter
specified.
1999
12-1-2 Amount of bond - Conditions - Right of action.
(1) The bond shall be for the sum of $10,000, payable to the state of Utah.
(2) The bond shall provide that the person giving it shall, upon written demand, remit the collection proceeds to or for the person for whom any account, bill, or other indebtedness is taken for collection in accordance with the collection agreement. The Division of Corporations and Commercial Code may specify the form of the bond and may require it to contain additional provisions and conditions it considers necessary or proper to protect the persons for whom the collection is undertaken.
(3) If a bond becomes forfeited or the sureties for it
become liable upon it, any person injured by the acts of
forfeiture or by the acts resulting in the sureties' liability,
or who by law is entitled to the benefit of the security,
may maintain an action on the bond in his own name against
the person giving the bond and against the sureties to recover
the amount of the bond to which he may be entitled. One recovery
does not bar recoveries for other breaches of the bond so
long as the sureties are liable in the aggregate only to
the extent of the undertaking.
1993
12-1-3 Term of bond - Limitation of action.
Such bond shall be for the term of one year from the date
thereof, unless the Division of Corporations and Commercial
Code and the person giving the same shall agree on a longer
period. No action thereon shall be begun after two years
from its expiration.
1984
12-1-5 Record of registrations and bonds - Right of inspection.
The Division of Corporations and Commercial Code shall
keep a record of all registrations and bonds filed with it
under the provisions hereof, with the names, places of residence,
and places of business of the principals and sureties, and
the name of the officer before whom the bond was executed
or acknowledged, and the record shall be open to public inspection.
1999
12-1-6 Violation of title - Penalty.
Any person, member of a partnership, or officer of any
association or corporation who fails to comply with any provision
of this title is guilty of a class A misdemeanor.
1993
12-1-7 Attorneys, banks and trust companies excepted.
This title shall not apply to an attorney at law duly
authorized to practice in this state, to a national bank,
or to any bank or trust company duly incorporated under the
laws of this state.
1953
12-1-8 Designating and limiting activities as to assignments.
Any collector having complied with the provisions of this
chapter, may receive accounts, bills or other indebtedness,
take assignments for the purpose of collections, and at the
direction of the assignor bring suit as assignee, provided
however, that all accounts shall be within the statute of
limitations as provided by law. All legal processes, pleadings,
and court representations shall be prepared and conducted
by a duly licensed attorney, and a copy of summons and complaint,
in all cases, shall be served on defendants.
1998
12-1-9 Information void if no bond filed by collection agency.
(1) As used in this section, "consumer reporting agency" means any person transacting business in this state who, for a fee, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information about consumers for the purpose of providing consumer reports to third parties.
(2) Information about the credit rating or credit worthiness
of a consumer supplied to a consumer reporting agency by
a collection agency as defined under the Fair Debt Collection
Practices Act, 15 U.S.C. Sec. 1692 et seq., that does not
have a bond on file with the Division of Corporations and
Commercial Code as required under this chapter, is void on
its face.
1990
12-1-10 Applications - Fees.
(1) Each application for registration under this chapter shall be made on a form provided by the Division of Corporations and Commercial Code.
(2) Each applicant shall pay to the Division of Corporations
and Commercial Code an application fee determined under Section
63-38-3.2
.
1999
