AR SB321

Clarifies definition of "collection agency" to include entities that engage in collecting delinquent accounts, use fictitious names to collect their own accounts receivable, solicit claims for collection, or purchase and attempt to collect delinquent accounts.

Establishes five (5) specific grounds for Governor removal of State Board of Collection Agencies members: lacking competency, immoral conduct or behavior, physical or mental infirmity preventing duty performance, abuse of official power, or other good cause.

Requires Governor to fill board vacancies by appointment within thirty (30) days, with replacement members serving the unexpired term of their predecessor and remaining eligible for subsequent appointments.

Increases collection agency industry representatives on the board from one (1) to two (2) members appointed after consulting the Associated Credit Bureaus of Arkansas and Arkansas Collectors Association, each subject to Senate confirmation.

Removes obsolete provisions regarding board examination grading and clarifies that members serve three-year staggered terms with expense reimbursement and stipends under Arkansas Code § 25-16-901 et seq.