[§481B-12]  Credit repair organizations. 
(a)  No person shall:



(1)  Solicit or induce a consumer to pay money or
other valuable consideration based on false representations that the person can
erase, correct, repair, alter, or otherwise modify an accurately reported
consumer credit history;



(2)  Solicit or induce a consumer to pay money or
other valuable consideration for the referral of a consumer to a credit
granting entity, if that person knows or has reason to know that the consumer
will be granted credit, if at all, by the entity on substantially the same
terms as those available to the general public;



(3)  Make or counsel or advise a consumer to make any
statement which is untrue or misleading or that the person should know by the
exercise of reasonable care to be untrue or misleading, to a credit reporting
agency or to any credit granting entity with respect to that customer's creditworthiness,
credit standing, or credit capacity; or



(4)  Provide advice or assistance with regard to any
of the foregoing activities.



(b)  For the purposes of this section,
"consumer" means a natural person acting in his or her own personal
capacity.



(c)  Any violation of this section shall
constitute an unfair or deceptive act or practice in the conduct of trade or
commerce under section 480-2. [L 1989, c 152, §1]