§ 31.45.082. Delinquent small loan -- Collection by licensee or third party
*** CHANGE IN 2009 *** (SEE 5164.SL) ***
A licensee shall comply with all applicable state and federal laws when collecting a delinquent small loan. A licensee may charge a one-time fee as determined in rule by the director to any borrower in default on any loan or loans where the borrower's check has been returned unpaid by the financial institution upon which it was drawn. A licensee may take civil action under Title 62A RCW to collect upon a check that has been dishonored. If the licensee takes civil action, a licensee may charge the borrower the cost of collection as allowed under RCW62A.3-515 , but may not collect attorneys' fees or any other interest or damages as allowed under RCW 62A.3-515. A licensee may not threaten criminal prosecution as a method of collecting a delinquent small loan. If a dishonored check is assigned to any third party for collection, this section applies to the third party for the collection of the dishonored check.
[2003 c 86 § 11.]
Sections: Previous 31.45.050 31.45.060 31.45.070 31.45.073 31.45.077 31.45.079 31.45.080 31.45.082 31.45.084 31.45.086 31.45.088 31.45.090 31.45.100 31.45.105 31.45.110 NextLast modified: April 7, 2009