AN ACT TO CLARIFY THAT REGULAR EMPLOYEES OF DULY LICENSED DEBT COLLECTION AGENCIES ARE NOT REQUIRED TO OBTAIN A COLLECTION AGENCY PERMIT. Summarized in Daily Bulletin 2/10/11 and 5/23/11. Enacted June 27, 2011. Effective June 27, 2011.
Summary date: Jun 30 2011 - More information
Summary date: May 23 2011 - More information
Senate committee substitute makes the following changes to 1st edition. Deletes amendment to GS 58-70-15, which expanded the list of persons or entities not subject to the collection agency statutes, and replaces with AN ACT TO CLARIFY THAT REGULAR EMPLOYEES OF DULY LICENSED DEBT COLLECTION AGENCIES ARE NOT REQUIRED TO OBTAIN A COLLECTION AGENCY PERMIT. Amends GS 58-70-1 as the new title indicates. Effective when it becomes law (was, effective July 1, 2011).
Summary date: Feb 10 2011 - More information
Amends GS 58-70-15 to expand the list of persons or entities not subject to the collection agency statutes to include a person, firm, corporation, or association attempting to collect or collecting a debt owed or asserted to be owed or due to another if the collection activity meets one or more of the following criteria: (1) is incidental to a bona fide escrow arrangement, (2) concerns a debt that was originated by such person, (3) concerns a debt that was not in default at the time it was obtained by such person, or (4) concerns a debt obtained by such person as a secured party in a commercial credit transaction. Effective July 1, 2011.