(a) This chapter does not apply to:

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Terms Used In Tennessee Code 62-20-103

  • Board: means the Tennessee collection service board. See Tennessee Code 62-20-102
  • Collection service: includes , but is not limited to:
    (A) Any deputy sheriff, constable or other individual who, in the course of that person's duties, accepts any compensation other than that fixed by statute in connection with the collection of an account. See Tennessee Code 62-20-102
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Person: means an individual, firm, corporation, association or other legal entity. See Tennessee Code 62-20-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) Any person handling claims, accounts or collections under order of any court;
(2) Attorneys at law;
(3) Any person engaged in the collection of indebtedness incurred in the normal course of business or the business of a parent, subsidiary or affiliated firm or corporation; however, no person who is or represents the person to be a collection service is exempt from this chapter;
(4) Any state or national bank; state or federal mutual savings bank; state or federal savings institution; or any parent, subsidiary, or affiliate of any of the foregoing;
(5) Any state or federal credit union;
(6) Any industrial loan and thrift company licensed or authorized by title 45, chapter 5;
(7) Any small business development corporation authorized by title 45, chapter 8;
(8) Any person that services or collects obligations secured by a consensual lien on a dwelling as defined by 12 C.F.R. § 1026.2(a)(19) or any successor regulation; or
(9) Any person that holds or acquires accounts, bills or other forms of indebtedness through purchase, assignment, or otherwise; and only engages in collection activity through the use of a licensed collection agency or an attorney authorized to practice law in this state.
(b) Nothing contained within this chapter shall be construed to require an individual or business entity that collects only the individual’s or its own unpaid accounts to submit to licensure or regulation by the collection service board.
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