This part does not apply to:

(1) An agreement with an individual whom the provider has no reason to know resides in this state at the time of the agreement;

Terms Used In Tennessee Code 47-18-5503

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Person: means a natural person, consumer, individual, governmental agency, partnership, corporation, trust, estate, incorporated or unincorporated association, and any other legal or commercial entity however organized. See Tennessee Code 47-18-2102
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) A provider to the extent that the provider:

(A) Provides or agrees to provide debt-management, educational or counseling services to an individual whom the provider has no reason to know resides in this state at the time the provider agrees to provide the services; or
(B) Receives no compensation for debt-management services from or on behalf of the individuals to whom it provides the services or from their creditors; or
(3) 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:

(A) A judicial officer, a person acting under an order of a court or an administrative agency or an assignee for the benefit of creditors;
(B) A bank;
(C) An affiliate, as defined in § 47-18-5502, of a bank if the affiliate is regulated by a federal or state banking regulatory authority;
(D) Any person who is engaged in the credit services business as defined in § 47-18-1002 but is not engaged in the business of debt counseling, debt management or debt settlement as defined by this part; provided, that the person is registered as a credit services business with the administrator; or
(E) 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.
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