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Senate Counsel, Research
and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 227 - Collection Agencies
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Author:
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Senator Ron Latz
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Prepared By:
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Date:
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January 21, 2015
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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."
CBS/tg
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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Last review or update: 01/21/2015
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