(a) Not less than sixty days before a collection agency terminates its business operations in the State, the registrant shall transmit astatement to the director and to each of the agency’s clients indicating:

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Terms Used In Hawaii Revised Statutes 443B-4.52

  • Client: means a person who offered or extended credit which created a debt, or to whom a debt is owed, and who engages the professional services of a collection agency. See Hawaii Revised Statutes 443B-1
  • Collection agency: includes :

    (1) Any person using any name other than the person's own in collecting the person's own claims with the intention of conveying, or which tends to convey the impression that a third party has been employed;

    (2) Any person who, in the conduct of the person's business for a fee, regularly repossesses any merchandise or chattels for another; and

    (3) Any person who regularly accepts the assignment of claims or money due on accounts or other forms of indebtedness and brings suits upon the assigned claims or money due on accounts or other forms of indebtedness in the person's own name; provided that any suits shall be initiated and prosecuted by an attorney who shall have been appointed by the assignee. See Hawaii Revised Statutes 443B-1

  • Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 443B-1
  • Principal collector: means an individual who has been designated by a collection agency to assume responsibility for the operations and activities of the agency's office in this State. See Hawaii Revised Statutes 443B-1
(1) That the registrant intends to terminate business in this State;
(2) The effective date of the termination; and
(3) That prior to the termination, the registrant shall lawfully expend or disburse all funds acquired in the course of business.
(b) If the registrant intends to transfer its client accounts to another collection agency, the notification shall also include:

(1) The name, address, telephone number, and registration number of the purchasing agency, and the purchasing agency’s principal collector in this State to whom the accounts will be assigned; and
(2) The date on which the purchasing agency intends to begin servicing the accounts transferred by the terminating agency.
(c) Registration is not canceled until the director has received the notice of termination, the terminating collection agency’s registration, and if applicable, verified the validity of the purchasing agency’s registration.

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