47-18-5503 - Exempt agreements and persons. [Effective July 1, 2010.] - Tennessee Statutes

47-18-5503. Exempt agreements and persons. [Effective July 1, 2010.]

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;

     (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(a) 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.

[Acts 2009, ch. 469, § 1.]