§ 25-11-1-7 — Unlawful acts

(a) It is unlawful for any person to conduct,
within this state, a collection agency without first having applied for
and obtained a license under the provisions of this chapter.
(b) It is unlawful for any person conducting a collection agency
within this state to fail to render an account of and pay to the client, for
whom collection has been made, the proceeds of such collection, less
the charges for collection in accordance with the terms of agreement
between the applicant and client. This account shall be made within
sixty (60) days from the date of the collection of any claim.
(c) It is unlawful for any person conducting a collection agency,
within this state, to fail to deposit with a local depository not less than
one (1) time each week all money due and owing to clients collected by
said person, and keep the same on deposit in such depository in a
special account until remitted to the clients. It shall be unlawful for any
person to fail to keep a record of the money collected and the
remittance thereof.
(d) It is unlawful for any person to operate a branch office without
having first satisfied the requirements for operating a branch office as
described in section 3(c) and 3(e) of this chapter.
(e) It is unlawful for any person licensed under this chapter to fail
to comply with any disclosure requirements under IC 24-4.9.
Formerly: Acts 1937, c.92, s.7; Acts 1955, c.304, s.7. As
amended by Acts 1982, P.L.154, SEC.42; P.L.178-1996, SEC.6;
P.L.205-2021, SEC.8.