Ark. Code § 5-63-305

Current with legislation from 2024 Fiscal and Special Sessions.

Section 5-63-305 - Debt adjusting law - Exclusions

The following persons are not considered a debt adjuster for the purposes of this subchapter:

(1) An attorney at law;

(2) A bank, fiduciary, or financing and lending institution as authorized and admitted to transact business in this state and performing credit and financial adjusting services in the regular course of its principal business;

(3) A title insurer or abstract company, while doing an escrow business;

(4) An employer, for its employees;

(5) A judicial officer or another person acting pursuant to court order;

(6) A nonprofit organization giving debt management service without fee or charge or with a fee if the fee is in an amount not to exceed the amount of actual expenses incurred in offering the debt management service; and

(7) An association, for its members.

Ark. Code § 5-63-305

Acts 1967, No. 61, § 5; 1983, No. 189, § 2; A.S.A. 1947, § 41-4161.