2010 Wyoming Statutes
Title 33 - Professions And Occupations
Chapter 14 - Debt Adjusters

CHAPTER 14 - DEBT ADJUSTERS

 

33-14-101. Definitions.

 

 

(a) As used in this act:

 

(i) "Person" means an individual, corporation, partnership, trust, firm, association or other legal entity excluding a tax exempt nonprofit consumer credit counseling service, a person admitted to the bar in this state or a copartnership or professional corporation all members of which are admitted to the bar in this state;

 

(ii) "Debt adjusting" shall mean doing business in debt adjustments, budget counseling, debt management, or debt pooling service or holding oneself out, by words of similar import, as providing services to debtors in the management of their debts and contracting with a debtor for a fee to:

 

(A) Effect the adjustment, compromise, or discharge of any account, note, or other indebtedness, of the debtor; or

 

(B) Receive from the debtor and disburse to his creditors any money or other thing of value.

 

33-14-102. Prohibited; exception.

 

 

(a) It shall be unlawful for any person to engage in the business of debt adjusting.

 

(b) Nothing in this act shall apply to those situations involving debt adjusting as herein defined incurred in the practice of law in this state.

 

33-14-103. Penalty.

 

Whoever, either individually or as an officer, director or employee of any person, firm, association, partnership, corporation or other legal entity, violates any of the provisions of this act shall upon conviction, be guilty of a misdemeanor and shall be punished by a fine of not more than one hundred dollars ($100.00) or by confinement in the county jail of not more than six (6) months or both, for each such violation.