50-1123. Same; registrant's report to consumer; required contents.

50-1123

Chapter 50.--UNFAIR TRADE AND CONSUMER PROTECTION Article 11.--CREDIT SERVICES ORGANIZATIONS

      50-1123.   Same; registrant's report to consumer;required contents.A registrant shall provide a report at least once everythreemonths to each consumer who has entered intoa debt management services agreement with the registrant. The report shallinclude the:

      (a)   Total amount receivedfrom the consumer to date;

      (b)   total amount paid to each creditor to date;

      (c)   total amount any creditor has agreed to accept as payment in full on anydebt owed by the consumer;

      (d)   any fees paid to the registrant by the consumer; and

      (e)   any amount held in the trust account on behalf of the consumer.

      History:   L. 2004, ch. 22, § 8; July 1.