No person who is required to be licensed and who is subject to the provisions of sections 36a-655 to 36a-665, inclusive, and no control person shall, directly or indirectly: (1) Purchase from a creditor any obligation of a debtor; (2) operate as a collection agent and as a licensee as to the same debtor’s account; (3) execute any contract or agreement to be signed by the debtor unless the contract or agreement is fully and completely filled in and finished; (4) require the debtor to purchase other services or materials as a condition to enter into a written agreement for services; (5) pay any bonus or other consideration to any person for the referral of a debtor to the licensee’s business or accept or receive any bonus, commission or other consideration for referring any debtor to any person for any reason; (6) advertise, display, distribute, broadcast or televise or permit to be displayed, advertised, distributed, broadcast or televised the licensee’s services, rates or terms in any manner whatsoever wherein any false, misleading or deceptive statement or representation is made with regard to the services to be performed by the licensee or the charges to be made therefor; (7) employ any scheme, device or artifice to defraud or mislead any person in connection with a debt adjustment; (8) engage in any unfair or deceptive practice toward any person in connection with debt adjustment activities; (9) obtain property by fraud or misrepresentation; (10) fail to comply with the provisions of sections 36a-655 to 36a-665, inclusive, or regulations adopted under said sections, or any other state or federal law, including the rules and regulations thereunder; (11) negligently make any false statement or knowingly and wilfully make any omission of material fact in connection with any information or reports filed with a governmental agency or the system, or in connection with any investigation conducted by the commissioner or another governmental agency; (12) fail to truthfully account for moneys belonging to a debtor; (13) fail to comply with any demand or requirement made by the commissioner under and within the authority of sections 36a-655 to 36a-665, inclusive; (14) collect any fee or charge or receive money or payment prohibited by § 36a-661a; or (15) fail to establish, enforce and maintain policies and procedures for supervising employees, agents and office operations that are reasonably designed to achieve compliance with applicable debt adjustment laws and regulations.

Terms Used In Connecticut General Statutes 36a-661

  • another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
  • Commissioner: means the Banking Commissioner and, with respect to any function of the commissioner, includes any person authorized or designated by the commissioner to carry out that function. See Connecticut General Statutes 36a-2
  • Contract: A legal written agreement that becomes binding when signed.
  • Fraud: Intentional deception resulting in injury to another.
  • Licensee: means any person who is licensed or required to be licensed pursuant to the applicable provisions of this title. See Connecticut General Statutes 36a-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means an individual, company, including a company described in subparagraphs (A) and (B) of subdivision (11) of this section, or any other legal entity, including a federal, state or municipal government or agency or any political subdivision thereof. See Connecticut General Statutes 36a-2
  • State: means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the trust territory of the Pacific Islands, the Virgin Islands and the Northern Mariana Islands. See Connecticut General Statutes 36a-2
  • System: means the Nationwide Mortgage Licensing System and Registry, NMLS, NMLSR or such other name or acronym as may be assigned to the multistate system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and owned and operated by the State Regulatory Registry, LLC, or any successor or affiliated entity, for the licensing and registration of persons in the mortgage and other financial services industries. See Connecticut General Statutes 36a-2
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