§ 17-24-103 - Penalties. - Arkansas Statutes

17-24-103. Penalties.

(a) Any collection agency that engages in the business activities of a collection agency without a valid license issued pursuant to this chapter and any person, partnership, corporation, or association that shall violate any provision of this chapter shall be deemed guilty of a misdemeanor and upon conviction shall be fined in any sum of not less than fifty dollars ($50.00) nor more than five hundred dollars ($500). Each day of the violation shall constitute a separate offense.

(b) (1) The State Board of Collection Agencies is authorized to impose monetary fines as civil penalties to be paid for failure to comply with the provisions of this chapter or the regulations promulgated pursuant thereto.

(2) Prior to the imposition of monetary fines, the board shall provide notice and opportunity to be heard in accordance with hearing procedures in effect for the revocation, suspension, or refusal of licensure.