§ 58-70-1. Permit from Commissioner of Insurance; penalty for violation; exception.
Article70.
Collection Agencies.
Part 1. Permit Procedures.
§ 58‑70‑1. Permitfrom Commissioner of Insurance; penalty for violation; exception.
No person, firm, corporation,or association shall conduct or operate a collection agency or do a collectionagency business, as the same is hereinafter defined in this Article, until heor it shall have secured a permit therefor as provided in this Article. Anyperson, firm, corporation or association conducting or operating a collectionagency or doing a collection agency business without the permit shall be guiltyof a Class I felony. Any officer or agent of any person, firm, corporation orassociation, who shall personally and knowingly participate in any violation ofthe remaining provisions of this Part shall be guilty of a Class 1misdemeanor. Provided, however, that nothing in this section shall beconstrued to require a regular employee of a duly licensed collection agency inthis State to procure a collection agency permit. (1931, c. 217, s. 1; 1943, c.170; 1959, c. 1194, s. 1; 1969, c. 906, s. 1; 1979, c. 835; 1989, c. 441, s. 1;1993, c. 539, ss. 472, 1275; 1994, Ex. Sess., c. 24, s. 14(c).)