26-2222. DEFINITIONS. As used in this act:

(1) "Agent" means any person who, for compensation or gain, or in the expectation of compensation or gain, contacts persons in Idaho in connection with the business activities of a licensee or person required to be licensed under this act.

(2) "Business funds" means all moneys belonging to or due a licensee or person required to be licensed in connection with the business activities authorized under this act.

(3) "Collection activities" means the activities enumerated in subsections (2) through (6) of section 26-2223, Idaho Code.

(4) "Collection agency" means a person who engages in any of the activities enumerated in subsections (2) through (6) of section 26-2223, Idaho Code.

(5) "Credit repair organization" means any person engaged in any of the activities enumerated in subsection (8) of section 26-2223, Idaho Code. A credit repair organization does not include:

(a) A consumer reporting agency, as defined in 15 U.S.C. section 1681a(f), that provides consumer reports based on information furnished by creditors or any affiliate or subsidiary of such consumer reporting agency as defined by rule promulgated by the director;

(b) A person who has an ongoing contractual arrangement with a consumer reporting agency, as described in subsection (5)(a) of this section, to obtain consumer reports from a consumer reporting agency for the purposes of:

(i) Reselling such report, or any information contained in or derived from such report, to a consumer; or

(ii) Monitoring information in such report on behalf of a consumer; or

(c) A person to the extent that such person advertises, markets, provides or facilitates consumer access to the products or services offered or provided by:

(i) An entity described in subsection (5)(a) of this section; or

(ii) A person described in subsection (5)(b) of this section.

(6) "Creditor" means any person who offers or extends credit creating a debt or to whom a debt is owed.

(7) "Creditor client" means any person who transfers or assigns to a collection agency licensee or person required to be so licensed under this act, any account, bill, claim or other indebtedness for collection purposes.

(8) "Creditor funds" means all funds due and owing a creditor by a licensee or person required to be licensed under this act.

(9) "Debt counselor" or "credit counselor" means any person engaged in any of the activities enumerated in subsection (7) of section 26-2223, Idaho Code.

(10) "Department" means the Idaho department of finance.

(11) "Director" means the director of the Idaho department of finance.

(12) "Licensee" means a person who has obtained a license under this act.

(13) "Net collections" means all funds that are due to creditors from the licensee pursuant to the contract between the licensee and creditor, or licensee and debtor without taking into account any offset or funds due from the creditor to the licensee, because of the creditor having collected any part of the account due, plus all funds that the licensee agreed to return to debtors or that were not to be applied to debts.

(14) "Person" means any individual, corporation, association, partnership, limited liability partnership, trust, company, limited liability company, or unincorporated association.

History:

[26-2222, added 1970, ch. 53, sec. 1, p. 118; am. 1974, ch. 24, sec. 22, p. 592; am. 1987, ch. 295, sec. 1, p. 630; am. 1990, ch. 346, sec. 1, p. 931; am. 1997, ch. 370, sec. 1, p. 1176; am. 2002, ch. 190, sec. 1, p. 545; am. 2008, ch. 347, sec. 1, p. 938.]