16a-3-305

Chapter 16a.--CONSUMER CREDIT CODE
Part 3 LIMITATIONS ON AGREEMENTS AND PRACTICES
Article 3.--REGULATION OF AGREEMENTS AND PRACTICES

      16a-3-305.   (UCCC) No assignment of earnings.(1) A creditor may not take an assignment of earnings of the consumerfor payment or as security for payment of a debt arising out of a consumercredit transaction. An assignment of earnings in violation of this sectionis unenforceable by the assignee of the earnings and revocable by theconsumer. This section does not prohibit an employee from authorizingdeductions from his earnings if the authorization is revocable.

      (2)   A sale of unpaid earnings made in consideration of the payment ofmoney to or for the account of the seller of the earnings is deemed to be aloan to him secured by an assignment of earnings.

      History:   L. 1973, ch. 85, § 51; Jan. 1, 1974.