2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 22 - COLLECTION AGENCIES
Section 26-2222 - DEFINITIONS.
(1) "Agent" means any person who, for compensation or gain, or in the expectation of compensation or gain, contacts persons in Idaho in connection with the business activities of a licensee or person required to be licensed under this act.
(2) "Business funds" means all moneys belonging to or due a licensee or person required to be licensed in connection with the business activities authorized under this act.
(3) "Collection activities" means the activities enumerated in subsections (2) through (6) of section 26-2223, Idaho Code.
(4) "Collection agency" means a person who engages in any of the activities enumerated in subsections (2) through (6) of section 26-2223, Idaho Code.
(5) "Credit repair organization" means any person engaged in any of the activities enumerated in subsection (8) of section 26-2223, Idaho Code. A credit repair organization does not include:
(6) "Creditor" means any person who offers or extends credit creating a debt or to whom a debt is owed.
(7) "Creditor client" means any person who transfers or assigns to a collection agency licensee or person required to be so licensed under this act, any account, bill, claim or other indebtedness for collection purposes.
(8) "Creditor funds" means all funds due and owing a creditor by a licensee or person required to be licensed under this act.
(9) "Debt counselor" or "credit counselor" means any person engaged in any of the activities enumerated in subsection (7) of section 26-2223, Idaho Code.
(10) "Department" means the Idaho department of finance.
(11) "Director" means the director of the Idaho department of finance.
(12) "Licensee" means a person who has obtained a license under this act.
(13) "Net collections" means all funds that are due to creditors from the licensee pursuant to the contract between the licensee and creditor, or licensee and debtor without taking into account any offset or funds due from the creditor to the licensee, because of the creditor having collected any part of the account due, plus all funds that the licensee agreed to return to debtors or that were not to be applied to debts.
(14) "Person" means any individual, corporation, association, partnership, limited liability partnership, trust, company, limited liability company, or unincorporated association.
History:
[26-2222, added 1970, ch. 53, sec. 1, p. 118; am. 1974, ch. 24, sec. 22, p. 592; am. 1987, ch. 295, sec. 1, p. 630; am. 1990, ch. 346, sec. 1, p. 931; am. 1997, ch. 370, sec. 1, p. 1176; am. 2002, ch. 190, sec. 1, p. 545; am. 2008, ch. 347, sec. 1, p. 938.]
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