Collection
Agency Licensing Requirements:
Titel 12 of the Utah Code requires that any person or business who wishes to
conduct collection activities must first register with the Division of Corporations and
Commercial Code, and post bond in the sum of $10,000.00. In addition, if the
collection activities involve consumer trasactions, i.e., those involving assignment of
installment contracts for personal, family, or household purposes, the collection agency
must also register with the Utah Department of Financial Institutions as required under
section 70C-8-20, et seq. of the Utah Code. Violators may be subject to a charge of
a class A misdemeanor in the State of Utah.
Detailed information regarding registration of Collection Agencies may
be obtained from:
State of Utah
Division of Corporations and Commercial Code
160 East 300 South, 2nd floor
P. O. Box 146705
Salt Lake City, Utah 84114-6705
|
