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S.F. No. 227 - Collection Agencies
Author: Senator Ron Latz
Prepared By: Christopher B. Stang, Senate Counsel (651/296-0539)
Date: January 21, 2015


Section 1 expands the definition of “collection agency” to include persons who purchase debt incurred by the debtor for personal, family, or household purposes and collect on the debt on its own behalf. This would subject these persons to regulation as collection agencies under state law. Currently, to be defined as a collection agency the person must be engaged in the business of collection for others.

Section 2 is a conforming change to the definition of "collector."



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