HB 399 Summary

• Requires collection agency license applications to be filed through the Nationwide Mortgage Licensing System and Registry (NMLSR) and increases the application fee from $350 to $1,350.

• Removes the requirement for licensees to designate a specific responsible person to oversee collection activities at each office location.

• Repeals the branch office licensing provision and instead requires separate licenses for each additional place of business; branch licenses now automatically expire when the home office license expires or is revoked.

• Authorizes collection agencies to collect incidental fees, charges, or expenses if expressly authorized by statute, court order, or the debt agreement, with limitations on attorney's fees and litigation costs prior to judgment.

• Changes the license renewal date from March 15 to December 31 of each year and establishes a $200 reinstatement fee for licenses expired during January 1 through February 28; removes the requirement to submit quarterly agent lists and associated fees.