§ 33-14-101 — Definitions

(a) As used in this act:
(i) "Person" means an individual, corporation,
partnership, trust, firm, association or other legal entity
excluding a tax exempt nonprofit consumer credit counseling
service, a person admitted to the bar in this state or a
copartnership or professional corporation all members of which
are admitted to the bar in this state;
(ii) "Debt adjusting" shall mean doing business in
debt adjustments, budget counseling, debt management, or debt
pooling service or holding oneself out, by words of similar
import, as providing services to debtors in the management of
their debts and contracting with a debtor for a fee to:
(A) Effect the adjustment, compromise, or
discharge of any account, note, or other indebtedness, of the
debtor; or
(B) Receive from the debtor and disburse to his
creditors any money or other thing of value.