Official Summary Text
Bill Summary - 23LSO-0680
Bill No.:
HB0284
Effective:
7/1/2023
LSO No.:
23LSO-0680
Enrolled Act No.:
HEA No. 0058
Chapter No.:
119
Prime Sponsor:
Walters
Catch Title:
Collection agency regulation-debt buyers.
Subject:
Requiring debt buyers to be regulated by the Collection Agency Board.
Summary/Major Elements:
Under current law, the Collection Agency Board regulates collection agencies, which are entities that collect debts.
This act includes debt buyers in the definition of "collection agency." As a result, the Collection Agency Board will regulate debt buyers as collection agencies, and debt buyers will be required to be licensed by the Board to conduct collections or act as a debt collector.
Debt buyers are those persons who are regularly engaged in the business of purchasing charged-off consumer debt for collection purposes.
The act will not affect the validity of any civil action or arbitration filed or commenced by a debt buyer, or any judgment entered for a debt buyer, before July 1, 2023.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.
Current Bill Text
Read the full stored bill text
23LSO-0680
ORIGINAL House
Bill No
.
HB0284
ENROLLED ACT NO. 58,
HOUSE OF REPRESENTATIVES
SIXTY-SEVENTH LEGISLATURE OF THE STATE OF WYOMING
2023 General Session
AN ACT relating to collection agencies; specifying that debt buyers are collection agencies for purposes of regulation; making conforming amendments; specifying applicability; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1
.
W.S. 33
‑
11
‑
101(a)(iii)(E), (F) and by creating a new subparagraph (G), by creating a new paragraph (xv) and by renumbering (xv) as (xvi) is amended to read:
33
‑
11
‑
101.
Definitions.
(a)
As used in this act:
(iii)
"Collection agency" means any person who:
(E)
Uses a fictitious name or any name other than their own name in the collection of their own accounts receivable;
or
(F)
Collects debts incurred in this state from debtors located in this state by means of interstate communications, including telephone, mail or facsimile or any other electronic method, from the debt collector's location in another state
;
.
or
(G)
Operates as a debt buyer.
(xv)
"Debt buyer" means any person that is regularly engaged in the business of purchasing charged
‑
off consumer debt for collection purposes, whether the person collects the debt, hires a third party for collection of the debt or hires an attorney for collection litigation;
(xv)
(xvi)
"This act" means W.S. 33
‑
11
‑
101 through 33
‑
11
‑
116.
Section 2.
This act shall not affect the validity of any civil action or arbitration filed or commenced by a debt buyer, or any judgment entered for a debt buyer, before July 1, 2023.
Section 3
.
This act is effective July 1, 2023.
(END)
Speaker of the House
President of the Senate
Governor
TIME APPROVED: _________
DATE APPROVED: _________
I hereby certify that this act originated in the House.
Chief Clerk
1