(a) No person shall commence, conduct or operate any collection service business in this state unless the person holds a valid collection service license issued by the board under this chapter or prior state law.

Terms Used In Tennessee Code 62-20-105

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Board: means the Tennessee collection service board. See Tennessee Code 62-20-102
  • Collection service: includes , but is not limited to:
    (A) Any deputy sheriff, constable or other individual who, in the course of that person's duties, accepts any compensation other than that fixed by statute in connection with the collection of an account. See Tennessee Code 62-20-102
  • Collection service license: means a license granted to a collection service. See Tennessee Code 62-20-102
  • Contract: A legal written agreement that becomes binding when signed.
  • 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, firm, corporation, association or other legal entity. See Tennessee Code 62-20-102
  • 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
(b) Regular employees of licensed collection services need not procure a separate collection service license.
(c) [Deleted by 2021 amendment.]
(d) Nothing in this chapter shall be construed to impair or impede the obligation of any contract, delinquent account, bills or other forms of indebtedness, nor prevent or deny any person the right to purchase, sell, assign, or take by assignment any obligation.
(e) Notwithstanding subsection (a), no debt or obligation that has been collected by a voluntary payment or by a final judgment of any court may be set aside or challenged based on the lack of a license.
(f) Any person who is alleged to have violated subsection (a) in the collection of a delinquent account, bill or other form of indebtedness:

(1) May cure the default at any time, even after collection may have started, by filing an application for a license with the collection services board as provided in this chapter, and the board may not use a prior collection effort in violation of this section or § 62-20-124 as a basis or consideration for the denial of a license; and
(2) May be subject to sanction by the collection service board, but may not be subject to other civil action or defense based on such alleged violation.
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