6-702. Exemptions

The provisions of this chapter shall not be applicable to:

1. Attorneys at law, whose principal activities are other than debt management, when debt management is only incidental to their regular activities.

2. Banks, savings and loan associations or financing and lending institutions duly authorized and licensed to transact business under the laws of this state or of the United States.

3. Judicial officers or others acting under court orders.

4. Nonprofit religious, fraternal or cooperative organizations that:

(a) Are bonded as provided by section 6-704.

(b) Offer debt management service exclusively for their members.

(c) Do not collect any compensation directly or indirectly from debtors.

(d) File an annual report as provided in section 6-709, subsection M.

5. Nonprofit corporations or nonprofit debt counselor associations that:

(a) Are bonded as provided by section 6-704.

(b) Are organized to render financial planning service or debt management service to the public.

(c) Do not collect any compensation directly or indirectly from debtors.

(d) File an annual report as provided in section 6-709, subsection M.

6. Any transaction in which money or other property is paid to a joint control agent for dispersal or use in the payment of the cost of labor, materials, services, permits, fees, or other items of expense incurred in construction of improvements upon real property.

7. A person licensed pursuant to chapter 7 of this title.

8. A person licensed pursuant to chapter 9, article 2 of this title.

9. A bill paying service provider that complies with all of the following:

(a) Does not accept bills on invoices that are contractually past due at the time of receipt by the debtor.

(b) Does not initiate any contact with individual creditors of the debtor to compromise a debt or arrange a new payment schedule.

(c) Does not provide any debt counseling services.

(d) Makes a written contract with the debtor and immediately furnishes the debtor with a copy of the complete contract.

(e) Furnishes the debtor with a written statement of the debtor's account each month and a verbal accounting at any time the debtor requests it during normal business hours.

(f) Does not take physical possession of any debtor monies except for fees and charges for services rendered as agreed to in writing. Nothing in this subdivision shall be construed to prevent a service provider from obtaining check signing authority on an account if the account remains solely in the debtor's name, the debtor maintains control over the monies deposited in the account and the check signing authority is limited to the payment of obligations that are approved and authorized by the debtor.