Delaware Code Title 6 Sec. 2403A – Exempt agreements and persons
(a) This chapter does not apply to an agreement with an individual who the provider has no reason to know resides in this State at the time of the agreement.
Terms Used In Delaware Code Title 6 Sec. 2403A
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
- State: means the District of Columbia or the Commonwealth of Puerto Rico or any state, territory, possession, or other jurisdiction of the United States other than the State of Delaware. See Delaware Code Title 6 Sec. 17-101
(b) This chapter does not apply to a provider to the extent that the provider:
(1) Provides or agrees to provide debt-management, educational, or counseling services to an individual who the provider has no reason to know resides in this State at the time the provider agrees to provide the services; or
(2) Receives no compensation for debt-management services from or on behalf of the individuals to whom it provides the services or from their creditors.
(c) This chapter does not apply to the following persons or their employees when the person or the employee is engaged in the regular course of the person’s business or profession:
(1) A judicial officer, a person acting under an order of a court or an administrative agency, or an assignee for the benefit of creditors;
(2) A bank;
(3) An affiliate, as defined in § 2402A(1)(B)(i) of this title, of a bank if the affiliate is regulated by a federal or state banking regulatory authority; or
(4) A title insurer, escrow company, or other person that provides bill-paying services if the provision of debt-management services is incidental to the bill-paying services.