12-1-1 - Registration and bond required.
12-1-1. Registration and bond required.
No person shall conduct a collection agency, collection bureau, or collection office in thisstate, or engage in this state in the business of soliciting the right to collect or receive payment foranother of any account, bill, or other indebtedness, or advertise for or solicit in print the right tocollect or receive payment for another of any account, bill, or other indebtedness, unless at thetime of conducting the collection agency, collection bureau, collection office, or collectionbusiness, or of advertising or soliciting, that person or the person for whom he may be acting asagent, is registered with the Division of Corporations and Commercial Code and has on file agood and sufficient bond as hereinafter specified.
Amended by Chapter 235, 1999 General Session