1. (a)

   1. (1) In this section the following words have the meanings indicated.
   2. (2) “Common ownership” means direct or indirect ownership of more than 50% of a person.
   3. (3) “Principal business” means a business activity of a person that comprises more than 50% of the total business activities of the person.

2. (b) This title does not apply to:

   1. (1) a bank;
   2. (2) a federal or State credit union;
   3. (3) a mortgage lender;
   4. (4) a person acting under an order of a court of competent jurisdiction;
   5. (5) a licensed real estate broker, or an individual acting on behalf of the real estate broker, in the collection of rent or allied charges for property;
   6. (6) a savings and loan association;
   7. (7) a title company as to its escrow business;
   8. (8) a trust company;

   9. (9) a lawyer who is collecting a debt for a client, unless the lawyer has an employee who:

      1. (i) is not a lawyer; and
      2. (ii) is engaged primarily to solicit debts for collection or primarily makes contact with a debtor to collect or adjust a debt through a procedure identified with the operation of a collection agency; or

   10. (10) a person who is collecting a debt for another person if:

       1. (i) both persons are related by common ownership;
       2. (ii) the person who is collecting a debt does so only for those persons to whom it is related by common ownership;
       3. (iii) the principal business of the person who is collecting a debt is not the collection of debts; and

       4. (iv) before collecting a debt, the person files with the Board:

          1. 1. the correct name of the person;
          2. 2. an address and telephone number of a contact person; and
          3. 3. the name of the person's resident agent.

Added by Acts 1992, c. 4, § 2. Amended by Acts 2001, c. 558, § 1, eff. June 1, 2001.

Formerly Art. 56, § 323.