AB617,108,15 DFI-Bkg 74.06 (2) Each licensee shall deposit in a trust fund account in any approved financial institution promptly after collection, sufficient funds to pay all moneys due or owing all creditors or forwarders. The trust fund account shall be used only for this purpose. A licensee may maintain trust funds in an interest bearing savings account or instrument provided it is identified as a “trust account". account.”

AB617,108,19 (3) Sufficient funds shall be maintained in the trust account or trust accounts to pay all moneys due or owing all creditors or forwarders. For the purpose of determining sufficient funds, amounts collected by a 3rd party, but not yet deposited into the licensee's trust account, are not considered trust funds.

AB617,108,22 (4) Sufficient funds shall be maintained in or made available to the trust checking account on which remittance checks or electronic debits are drawn or made to pay all checks and debits when presented.

AB617,108,24 (5) The licensee shall have sufficient documentation from the trust account or trust accounts available to make an adequate examination.

AB617,182 Section 182 . DFI-Bkg 74.06 (1) of the administrative code is created to read:

AB617,109,2 DFI-Bkg 74.06 (1) A licensee's trust checking account shall be identified as a “trust account.”

AB617,183 Section 183 . DFI-Bkg 74.06 (6) of the administrative code is created to read:

AB617,109,5 DFI-Bkg 74.06 (6) Third party payment processors shall not be given authority to withdraw funds from the licensee's trust account or accounts.

AB617,184 Section 184 . DFI-Bkg 74.07 (1) (j) of the administrative code is created to read:

AB617,109,10 DFI-Bkg 74.07 (1) (j) A roster of all collectors and solicitors employed by the licensee. The list shall be updated and accurate at all times and set forth all of the following:

AB617,109,12 1. The individual's first and last name, home address, and indication of whether the individual works from the individual's residence.

AB617,109,15 2. The first and last name of any alias that is used by the individual, the date the individual started to use the alias, and, if applicable, the date the individual stopped using the alias.

AB617,109,16 3. The date the individual was hired by the licensee.

AB617,109,18 4. The date the individual's employment with the licensee was terminated, if applicable.

AB617,185 Section 185 . DFI-Bkg 74.10 (1) (c) of the administrative code is created to read:

AB617,109,25 DFI-Bkg 74.10 (1) (c) A licensee may not contract for or assess a fee, commission, or any other charge to a creditor for returning any account to the creditor that is not in the actual process of collection, other than a contracted fee for reasonable costs incurred by the licensee for each account placed in error by the creditor.

AB617,186 Section 186. DFI-Bkg 74.10 (2) of the administrative code is renumbered DFI-Bkg 74.10 (2) (b).

AB617,187 Section 187 . DFI-Bkg 74.10 (2) (a) of the administrative code is created to read:

AB617,110,6 DFI-Bkg 74.10 (2) (a) In this subsection, “terminated,” with respect to a license, includes a license that is surrendered, revoked, or expired.

AB617,188 Section 188 . DFI-Bkg 74.11 (10) of the administrative code is created to read:

AB617,110,10 DFI-Bkg 74.11 (10) Trade names. (a) A licensee may not conduct business in this state under any name or names other than the name or names listed on the license.

AB617,110,12 (b) Before using any trade name, a licensee shall obtain approval from the division for the use of the trade name.

AB617,110,14 (c) A licensee may not conduct business in this state using a trade name that includes a corporate identifier.

AB617,189 Section 189 . DFI-Bkg 74.12 of the administrative code is repealed.

AB617,190 Section 190 . DFI-Bkg 74.14 of the administrative code is repealed.

AB617,191 Section 191 . DFI-Bkg 74.16 (9) of the administrative code is amended to read:

AB617,110,20 DFI-Bkg 74.16 (9) Engage in other conduct which that can reasonably be expected to threaten or harass the debtor or a person related to the debtor including conduct which violates.

AB617,110,21 (9g) Violate the Federal Fair Debt Collection Practices Act.

AB617,192 Section 192 . DFI-Bkg 74.16 (9m) of the administrative code is created to read: