Not exact matches
The surety
bond or account of a credit services
organization must be in the
amount of $ 10,000.
The aggregate liability of the surety or trustee to all persons damaged by a credit services
organization's violation of the act shall not exceed the
amount of the
bond or account.
The aggregate liability of the surety or trustee to all persons damaged by a credit services
organization's violation of this chapter shall not exceed the
amount of the surety account or
bond.
Charge a buyer or receive from a buyer money or other valuable consideration before completing performance of all services the credit services
organization has agreed to perform for the buyer, unless the credit services
organization has obtained a
bond in accordance with section 538A.4 or established and maintained a surety account at a federally insured bank or savings and loan association located in this state in the
amount required by section 538A.4, subsection 5.
The aggregate liability of the surety company to all persons injured by a credit services
organization's violation of sections 4712.01 to 4712.14 of the Revised Code shall not exceed the
amount of the
bond.
(1) A credit services
organization, its salespersons, agents, and representatives, and independent contractors who sell or attempt to sell the services of a credit services
organization may not do any of the following: (a) conduct any business regulated by this chapter without first: (i) securing a certificate of registration from the division; and (ii) unless exempted under Section 13 -21-4, posting a
bond, letter of credit, or certificate of deposit with the division in the
amount of $ 100,000; (b) make a false statement, or fail to state a material fact, in connection with an application for registration with the division; (c) charge or receive any money or other valuable consideration prior to full and complete performance of the services the credit services
organization has agreed to perform for the buyer; (d) dispute or challenge, or assist a person in disputing or challenging an entry in a credit report prepared by a consumer reporting agency without a factual basis for believing and obtaining a written statement for each entry from the person stating that that person believes that the entry contains a material error or omission, outdated information, inaccurate information, or unverifiable information; (e) charge or receive any money or other valuable consideration solely for referral of the buyer to a retail seller who will or may extend credit to the buyer, if the credit that is or will be extended to the buyer is upon substantially the same terms as those available to the general public; (f) make, or counsel or advise any buyer to make, any statement that is untrue or misleading and that is known, or that by the exercise of reasonable care should be known, to be untrue or misleading, to a credit reporting agency or to any person who has extended credit to a buyer or to whom a buyer is applying for an extension of credit, with respect to a buyer's creditworthiness, credit standing, or credit capacity; (g) make or use any untrue or misleading representations in the offer or sale of the services of a credit services
organization or engage, directly or indirectly, in any act, practice, or course of business that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a credit services
organization; and (h) transact any business as a credit services
organization, as defined in Section 13 -21-2, without first having registered with the division by paying an annual fee set pursuant to Section 63J -1-504 and filing proof that it has obtained a
bond or letter of credit as required by Subsection (2).
A person that is damaged by a credit services
organization's violation of this chapter may: (1) bring an action to recover the greater of two (2) times the
amount of actual damages or one thousand dollars ($ 1,000) and attorney's fees; and (2) bring an action against the
bond or irrevocable letter of credit required under section 8 of this chapter to recover an
amount equal to the person's actual damages.
(a) Before doing business in Indiana, a credit services
organization must: (1) obtain a surety
bond in the
amount of twenty - five thousand dollars ($ 25,000), issued by a surety company authorized to do business in Indiana in favor of the state for the benefit of a person that is damaged by a violation of this chapter; and (2) file a copy of the surety
bond obtained under subdivision (1)
(1) Charge a buyer or receive from a buyer money or other valuable consideration before completing performance of all services the credit services
organization has agreed to perform for the buyer, unless the credit services
organization has obtained in accordance with § 2404 of this title a surety
bond in the
amount required by § 2404 (e) of this title issued by a surety company authorized to do business in this State or established and maintained a surety account at a federally insured bank or savings and loan association located in this State in which the
amount required by § 2404 (e) of this title is held in trust as required by § 2404 (c) of this title;
The aggregate liability of the surety or trustee to all persons damaged by a credit repair services
organization's violation of this Part shall not exceed the
amount of the
bond or trust account.
(1) Charge a buyer or receive from a buyer money or other valuable consideration unless the credit repair services
organization has obtained, in accordance with R.S. 9:3573.4, a surety
bond issued by a surety company authorized to do business in this state or has established and maintains a trust account at a federally insured bank or savings association located in this state in which the
amount required by R.S. 9:3573.4 (E) is held in trust as required by R.S. 9:3573.4.
A
bond is a type of debt issued by a corporation, government or other
organization where the purchaser pays a certain
amount to purchase the
bond and, in exchange, will receive either a lump sum after a certain period of time or specified recurring payments over a period of time.
No credit services
organization shall conduct business in this state unless the credit services
organization has first obtained a surety
bond in the principal
amount of one hundred thousand dollars ($ 100,000) issued by an admitted surety and the
bond complies with all of the following: (a) The
bond shall be in favor of the State of California for the benefit of any person who is damaged by any violation of this title.
(f) When a deposit has been made in lieu of a
bond, as specified in subdivision (a), the
amount of the deposit shall not be subject to attachment, garnishment, or execution with respect to an action or judgment against the credit services
organization, other than as to an
amount as no longer needed or required for the purpose of this title which would otherwise be returned to the credit services
organization by the Secretary of State.