Statutes, codes, and regulations
Wyoming Administrative Code
Agency 031 - Collection Agency BoardSubagency 0001 - General Agency, Board or Commission Rules
Chapter 3 - OPERATION
Section 3-7 - Termination of Business

031-3 Wyo. Code R. § 3-7

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Current through April 27, 2019
Section 3-7 - Termination of Business

If any licensee should cease doing business as a collection agency, the licensee:

(a) Shall give written notification to the Collection Agency Board.

(b) Shall send a written notification to each creditor-client who has an account with the licensee that the licensee will cease doing business. Such notification shall be sent at least thirty (30) days prior to cessation of business and shall include the following information:

  • (i) Name of the terminating or transferring agency.
  • (ii) The date upon which the licensee will cease doing business.
  • (iii) The name, address and telephone number of a person from the terminating or transferring agency whom the creditor-client may contact after business has been terminated.
  • (iv) A statement listing and accounting for all accounts to be returned or transferred by the agency, indicating, but not limited to account balance and present payment status.

(c) Upon cessation of business, the license issued by the Board under the Collection Agency Act will be surrendered to the Board.

031-3 Wyo. Code R. § 3-7