6-702

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.

(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.

(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.

(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.