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AR HB1668
Bill
Status
Passed
4/8/2015
Primary Sponsor
Dan Douglas
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AI Summary
- Amends Arkansas Code § 17-24-103 to regulate collection agency penalties and licensing requirements
- Collection agencies operating without a valid license may pay a $10,000 civil penalty to the State Board of Collection Agencies to be considered retroactively licensed under the chapter
- Defines "retroactively licensed" as the date a collection agency first became subject to licensure requirements under the chapter
- Authorizes the State Board of Collection Agencies to impose monetary fines as civil penalties for failure to comply with chapter provisions and regulations, with notice and hearing opportunity required before imposing fines
- Establishes that civil penalties are the only consequence and remedy for collection agencies failing to obtain required licenses, with the board having exclusive jurisdiction over violations
Legislative Description
To Regulate Collection Activities And The Practices Of Collection Agencies.
Last Action
Notification that HB1668 is now Act 1249
4/8/2015
Committee Referrals
Insurance & Commerce3/27/2015
Insurance and Commerce3/17/2015
Full Bill Text
No bill text available