MS SB2265

Reenacts sections 81-22-1 through 81-22-28 of the Mississippi Code establishing the Mississippi Debt Management Services Act, which regulates debt management service providers.

Requires debt management service providers to obtain a license from the Commissioner of Banking and Consumer Finance, with an initial fee of $750 and annual renewal fee of $475.

Mandates that all consumer funds be deposited in federally insured escrow accounts within 2 business days and remitted to creditors within 15 business days, with separate records maintained for each consumer.

Establishes fee limitations including a maximum $30 monthly maintenance fee, $75 setup fee, $15-$25 for credit reports, and $50 for educational courses or bankruptcy consultation.

Extends the repealer date of the Debt Management Services Act from July 1, 2016 to July 1, 2020.