§ 19-14.8-19 Form and content ofagreement. – (a) An agreement must:
(1) Be in a record;
(2) Be dated and signed by the provider and the individual;
(3) Include the name of the individual and the address wherethe individual resides;
(4) Include the name, business address, and telephone numberof the provider;
(5) Be delivered to the individual immediately upon formationof the agreement; and
(6) Disclose:
(A) The services to be provided;
(B) The amount, or method of determining the amount, of allfees, individually itemized, to be paid by the individual;
(C) The schedule of payments to be made by or on behalf ofthe individual, including the amount of each payment, the date on which eachpayment is due, and an estimate of the date of the final payment or, if suchinformation is not known to the provider at the time of the agreement is made,and affirmative statement to that effect;
(D) If a plan provides for regular periodic payments tocreditors:
(i) Each creditor of the individual to which payment will bemade, the amount owed to each creditor, and any concessions the providerreasonably believes each creditor will offer or, if the provider can not form areasonable belief as to such amounts and concessions at the time of theagreement is made, an affirmative statement to that effect; and
(ii) The schedule of expected payments to each creditor,including the amount of each payment and the date on which it will be made;
(E) Each creditor that the provider believes will notparticipate in the plan and to which the provider will not direct payment;
(F) How the provider will comply with its obligations undersubsection 19-14.8-27(a);
(G) That the provider may terminate the agreement for goodcause, upon return of unexpended money of the individual;
(H) That the individual may cancel the agreement as providedin § 19-14.8-20;
(I) That the individual may contact the director with anyquestions or complaints regarding the provider; and
(J) The address, telephone number, and Internet address orwebsite of the director.
(b) For purposes of subsection (a)(5), delivery of anelectronic record occurs when it is made available in a format in which theindividual may retrieve, save, and print it and the individual is notified thatit is available.
(c) If the director supplies the provider with anyinformation required under subsection (a)(6)(J), the provider may comply withthat requirement only by disclosing the information supplied by the director.
(d) An agreement must provide that:
(1) The individual has a right to terminate the agreement atany time, without penalty or obligation, by giving the provider written orelectronic notice, in which event:
(A) The provider will refund all unexpended money that theprovider or its agent has received from or on behalf of the individual for thereduction or satisfaction of the individual's debt;
(B) With respect to an agreement that contemplates thatcreditors will settle debts for less than the principal amount of debt, theprovider will refund sixty-five percent (65%) of any portion of the set-up feethat has not been credited against the settlement fee; and
(C) All powers of attorney granted by the individual to theprovider are revoked and ineffective;
(2) The individual authorizes any bank in which the provideror its agent has established a trust account to disclose to the director anyfinancial records relating to the trust account; and
(3) The provider will notify the individual within five (5)days after learning of a creditor's decision to reject or withdraw from a planand that this notice will include:
(A) The identity of the creditor; and
(B) The right of the individual to modify or terminate theagreement.
(e) An agreement may confer on a provider a power of attorneyto settle the individual's debt for no more than fifty percent (50%) of theprincipal amount of the debt. An agreement may not confer a power of attorneyto settle a debt for more than fifty percent (50%) of that amount, but mayconfer a power of attorney to negotiate with creditors of the individual onbehalf of the individual. An agreement must provide that the provider willobtain the assent of the individual after a creditor has assented to asettlement for more than fifty percent (50%) of the principal amount of thedebt.
(f) An agreement may not:
(1) Provide for application of the law of any jurisdictionother than the United States and this state;
(2) Except as permitted by Section 2 of the FederalArbitration Act, 9 U.S.C. § 2, as amended, contain a provision thatmodifies or limits otherwise available forums or procedural rights, includingthe right to trial by jury, that are generally available to the individualunder law other than this chapter;
(3) Contain a provision that restricts the individual'sremedies under this chapter or law other than this chapter; or
(4) Contain a provision that:
(A) Limits or releases the liability of any person for notperforming the agreement or for violating this chapter; or
(B) Indemnifies any person for liability arising under theagreement or this chapter.
(g) All rights and obligations specified in subsection (d)and § 19-14.8-20 exist even if not provided in the agreement. A provisionin an agreement which violates subsection (d), (e), or (f) is void.
§ 19-14.8-19 Form and content ofagreement. – (a) An agreement must:
(1) Be in a record;
(2) Be dated and signed by the provider and the individual;
(3) Include the name of the individual and the address wherethe individual resides;
(4) Include the name, business address, and telephone numberof the provider;
(5) Be delivered to the individual immediately upon formationof the agreement; and
(6) Disclose:
(A) The services to be provided;
(B) The amount, or method of determining the amount, of allfees, individually itemized, to be paid by the individual;
(C) The schedule of payments to be made by or on behalf ofthe individual, including the amount of each payment, the date on which eachpayment is due, and an estimate of the date of the final payment or, if suchinformation is not known to the provider at the time of the agreement is made,and affirmative statement to that effect;
(D) If a plan provides for regular periodic payments tocreditors:
(i) Each creditor of the individual to which payment will bemade, the amount owed to each creditor, and any concessions the providerreasonably believes each creditor will offer or, if the provider can not form areasonable belief as to such amounts and concessions at the time of theagreement is made, an affirmative statement to that effect; and
(ii) The schedule of expected payments to each creditor,including the amount of each payment and the date on which it will be made;
(E) Each creditor that the provider believes will notparticipate in the plan and to which the provider will not direct payment;
(F) How the provider will comply with its obligations undersubsection 19-14.8-27(a);
(G) That the provider may terminate the agreement for goodcause, upon return of unexpended money of the individual;
(H) That the individual may cancel the agreement as providedin § 19-14.8-20;
(I) That the individual may contact the director with anyquestions or complaints regarding the provider; and
(J) The address, telephone number, and Internet address orwebsite of the director.
(b) For purposes of subsection (a)(5), delivery of anelectronic record occurs when it is made available in a format in which theindividual may retrieve, save, and print it and the individual is notified thatit is available.
(c) If the director supplies the provider with anyinformation required under subsection (a)(6)(J), the provider may comply withthat requirement only by disclosing the information supplied by the director.
(d) An agreement must provide that:
(1) The individual has a right to terminate the agreement atany time, without penalty or obligation, by giving the provider written orelectronic notice, in which event:
(A) The provider will refund all unexpended money that theprovider or its agent has received from or on behalf of the individual for thereduction or satisfaction of the individual's debt;
(B) With respect to an agreement that contemplates thatcreditors will settle debts for less than the principal amount of debt, theprovider will refund sixty-five percent (65%) of any portion of the set-up feethat has not been credited against the settlement fee; and
(C) All powers of attorney granted by the individual to theprovider are revoked and ineffective;
(2) The individual authorizes any bank in which the provideror its agent has established a trust account to disclose to the director anyfinancial records relating to the trust account; and
(3) The provider will notify the individual within five (5)days after learning of a creditor's decision to reject or withdraw from a planand that this notice will include:
(A) The identity of the creditor; and
(B) The right of the individual to modify or terminate theagreement.
(e) An agreement may confer on a provider a power of attorneyto settle the individual's debt for no more than fifty percent (50%) of theprincipal amount of the debt. An agreement may not confer a power of attorneyto settle a debt for more than fifty percent (50%) of that amount, but mayconfer a power of attorney to negotiate with creditors of the individual onbehalf of the individual. An agreement must provide that the provider willobtain the assent of the individual after a creditor has assented to asettlement for more than fifty percent (50%) of the principal amount of thedebt.
(f) An agreement may not:
(1) Provide for application of the law of any jurisdictionother than the United States and this state;
(2) Except as permitted by Section 2 of the FederalArbitration Act, 9 U.S.C. § 2, as amended, contain a provision thatmodifies or limits otherwise available forums or procedural rights, includingthe right to trial by jury, that are generally available to the individualunder law other than this chapter;
(3) Contain a provision that restricts the individual'sremedies under this chapter or law other than this chapter; or
(4) Contain a provision that:
(A) Limits or releases the liability of any person for notperforming the agreement or for violating this chapter; or
(B) Indemnifies any person for liability arising under theagreement or this chapter.
(g) All rights and obligations specified in subsection (d)and § 19-14.8-20 exist even if not provided in the agreement. A provisionin an agreement which violates subsection (d), (e), or (f) is void.
§ 19-14.8-19 Form and content ofagreement. – (a) An agreement must:
(1) Be in a record;
(2) Be dated and signed by the provider and the individual;
(3) Include the name of the individual and the address wherethe individual resides;
(4) Include the name, business address, and telephone numberof the provider;
(5) Be delivered to the individual immediately upon formationof the agreement; and
(6) Disclose:
(A) The services to be provided;
(B) The amount, or method of determining the amount, of allfees, individually itemized, to be paid by the individual;
(C) The schedule of payments to be made by or on behalf ofthe individual, including the amount of each payment, the date on which eachpayment is due, and an estimate of the date of the final payment or, if suchinformation is not known to the provider at the time of the agreement is made,and affirmative statement to that effect;
(D) If a plan provides for regular periodic payments tocreditors:
(i) Each creditor of the individual to which payment will bemade, the amount owed to each creditor, and any concessions the providerreasonably believes each creditor will offer or, if the provider can not form areasonable belief as to such amounts and concessions at the time of theagreement is made, an affirmative statement to that effect; and
(ii) The schedule of expected payments to each creditor,including the amount of each payment and the date on which it will be made;
(E) Each creditor that the provider believes will notparticipate in the plan and to which the provider will not direct payment;
(F) How the provider will comply with its obligations undersubsection 19-14.8-27(a);
(G) That the provider may terminate the agreement for goodcause, upon return of unexpended money of the individual;
(H) That the individual may cancel the agreement as providedin § 19-14.8-20;
(I) That the individual may contact the director with anyquestions or complaints regarding the provider; and
(J) The address, telephone number, and Internet address orwebsite of the director.
(b) For purposes of subsection (a)(5), delivery of anelectronic record occurs when it is made available in a format in which theindividual may retrieve, save, and print it and the individual is notified thatit is available.
(c) If the director supplies the provider with anyinformation required under subsection (a)(6)(J), the provider may comply withthat requirement only by disclosing the information supplied by the director.
(d) An agreement must provide that:
(1) The individual has a right to terminate the agreement atany time, without penalty or obligation, by giving the provider written orelectronic notice, in which event:
(A) The provider will refund all unexpended money that theprovider or its agent has received from or on behalf of the individual for thereduction or satisfaction of the individual's debt;
(B) With respect to an agreement that contemplates thatcreditors will settle debts for less than the principal amount of debt, theprovider will refund sixty-five percent (65%) of any portion of the set-up feethat has not been credited against the settlement fee; and
(C) All powers of attorney granted by the individual to theprovider are revoked and ineffective;
(2) The individual authorizes any bank in which the provideror its agent has established a trust account to disclose to the director anyfinancial records relating to the trust account; and
(3) The provider will notify the individual within five (5)days after learning of a creditor's decision to reject or withdraw from a planand that this notice will include:
(A) The identity of the creditor; and
(B) The right of the individual to modify or terminate theagreement.
(e) An agreement may confer on a provider a power of attorneyto settle the individual's debt for no more than fifty percent (50%) of theprincipal amount of the debt. An agreement may not confer a power of attorneyto settle a debt for more than fifty percent (50%) of that amount, but mayconfer a power of attorney to negotiate with creditors of the individual onbehalf of the individual. An agreement must provide that the provider willobtain the assent of the individual after a creditor has assented to asettlement for more than fifty percent (50%) of the principal amount of thedebt.
(f) An agreement may not:
(1) Provide for application of the law of any jurisdictionother than the United States and this state;
(2) Except as permitted by Section 2 of the FederalArbitration Act, 9 U.S.C. § 2, as amended, contain a provision thatmodifies or limits otherwise available forums or procedural rights, includingthe right to trial by jury, that are generally available to the individualunder law other than this chapter;
(3) Contain a provision that restricts the individual'sremedies under this chapter or law other than this chapter; or
(4) Contain a provision that:
(A) Limits or releases the liability of any person for notperforming the agreement or for violating this chapter; or
(B) Indemnifies any person for liability arising under theagreement or this chapter.
(g) All rights and obligations specified in subsection (d)and § 19-14.8-20 exist even if not provided in the agreement. A provisionin an agreement which violates subsection (d), (e), or (f) is void.
