West Virginia House Bill 2346 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 13 2013 - 25% progression, died in committee
Action: 2013-02-13 - To House Banking and Insurance
Pending: House Banking & Insurance Committee
Text: Latest bill text (Introduced) [HTML]

This bill creates The Uniform Debt Management Services Act. The bill regulates debt management services providers. The bill provides for the registration of debt management service providers with the Division of Banking. The bill defines terms. The bill provides exemptions for certain agreements and persons. The bill establishes the application information and fees required for registration. The bill requires applicants and registrants to provide the Commissioner of Banking with certain updated information provided as part of the application. The bill establishes the grounds under which the commissioner may deny a registration. The bill requires the commissioner to act on a registration application within one hundred-twenty days of receipt of the complete application. The bill requires an annual renewal of all registrations. The bill requires periodic report by providers. The bill requires a surety bond for registered providers. The bill requires providers of debt management services to act in good faith and maintain customer service access during ordinary business hours. The bill establishes the prerequisites for providing debt management services. The bill requires certain provisions in all contracts to provide debt management services. The bill provides for the ability to terminate a debt management services agreement upon notice. The bill provides that all money paid to a debt management services provider shall be held in trust in an insured bank account. The bill prohibits the imposition of a fee or other charge for debt management services until the provider and customer have signed an agreement. The bill provides that an individual may void an agreement and recover a refund of any moneys paid. The bill provides a five-year period for retention of records. The bill establishes prohibited acts and practices of a debt management service provider. The bill requires a provider to provide the commissioner with notice of any civil litigation against it relating to violation of this article. The bill requires certain disclosures in advertising by debt management services providers. The bill authorizes the Division of Banking to examine providers for compliance. The bill requires background investigation of principals of providers. The bill authorizes the Division of Banking and the office of the Attorney General to enforce the act. The bill provides for private enforcement remedies. The bill establishes statutes of limitations. This article is new; therefore, it has been completely underscored.

The Uniform Debt Management Services Act

Del. Clif Moore [D]

Del. Douglas Reynolds [D]

Del. Tom Azinger [R]

Date	Chamber	Action
2013-02-13	House	To House Banking and Insurance
2013-02-13	House	Introduced in House
2013-02-13	House	To Banking and Insurance then Judiciary
2013-02-13	House	Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
47	26	1	New Code	See Bill Text
47	26	10	New Code	See Bill Text
47	26	11	New Code	See Bill Text
47	26	12	New Code	See Bill Text
47	26	13	New Code	See Bill Text
47	26	14	New Code	See Bill Text
47	26	15	New Code	See Bill Text
47	26	16	New Code	See Bill Text
47	26	17	New Code	See Bill Text
47	26	18	New Code	See Bill Text
47	26	19	New Code	See Bill Text
47	26	2	New Code	See Bill Text
47	26	20	New Code	See Bill Text
47	26	21	New Code	See Bill Text
47	26	22	New Code	See Bill Text
47	26	23	New Code	See Bill Text
47	26	24	New Code	See Bill Text
47	26	25	New Code	See Bill Text
47	26	26	New Code	See Bill Text
47	26	27	New Code	See Bill Text
47	26	28	New Code	See Bill Text
47	26	29	New Code	See Bill Text
47	26	3	New Code	See Bill Text
47	26	30	New Code	See Bill Text
47	26	31	New Code	See Bill Text
47	26	32	New Code	See Bill Text
47	26	33	New Code	See Bill Text
47	26	34	New Code	See Bill Text
47	26	35	New Code	See Bill Text
47	26	36	New Code	See Bill Text
47	26	37	New Code	See Bill Text
47	26	38	New Code	See Bill Text
47	26	39	New Code	See Bill Text
47	26	4	New Code	See Bill Text
47	26	5	New Code	See Bill Text
47	26	6	New Code	See Bill Text
47	26	7	New Code	See Bill Text
47	26	8	New Code	See Bill Text
47	26	9	New Code	See Bill Text

Type	Source
Summary	http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=2346&year=2013&sessiontype=RS&btype=bill
Text	http://www.legis.state.wv.us/Bill_Status/bills_text.cfm?billdoc=hb2346%20intr.htm&yr=2013&sesstype=RS&i=2346