HB2043 Summary

• Transfers regulatory authority for telephonic sellers from the Consumer Protection Division of the Attorney General to the Secretary of State, including registration, bonding, and service of process functions.

• Maintains telephonic seller registration requirements of 10 days before doing business with a $100 filing fee, valid for one year and renewable with the same fee.

• Requires telephonic sellers to maintain a $50,000 surety bond for consumer protection and additional bonds for promotional premiums valued at $500 or more.

• Updates salesperson registration procedures to require registration with the Secretary of State within 72 hours of employment at a $10 fee, with quarterly updates for personnel changes.

• Effective January 1, 2018, with no changes to existing penalties for violations (Class A misdemeanor for unauthorized solicitation, Class D felony for fraudulent practices).