Hawaii Revised Statutes 443B-10 – Reports and payments by agency
Terms Used In Hawaii Revised Statutes 443B-10
- 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
- month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
Every collection agency shall, within thirty days after the close of each calendar month, report and pay to its clients the net amount due to each client out of all collections made during the preceding calendar month.
In the event the gross amount due is paid to a client and the client fails to pay a collection agency any sums due under this section, the collection agency shall have, in addition to other remedies provided by law, the right to offset any moneys due the collection agency under this section against any moneys due its client.