28-43-304. NO ASSIGNMENT OF EARNINGS. (1) A creditor may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a regulated consumer credit transaction. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit a debtor from authorizing deductions from his earnings in favor of his creditor if the authorization is revocable, the debtor is given a complete copy of the writing evidencing the authorization at the time he signs it, and the writing contains on its face a conspicuous notice of the debtor’s right to revoke the authorization.
(2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him secured by an assignment of earnings.
History:
[28-43-304, added 1983, ch. 119, sec. 3, p. 284.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 43 - REGULATION OF AGREEMENTS AND PRACTICES
Part 3 - LIMITATIONS ON AGREEMENTS AND PRACTICES IN REGULATED CONSUMER CREDIT TRANSACTIONS
Section 28-43-301 - SECURITY IN SALES.
Section 28-43-302 - CROSS-COLLATERAL.
Section 28-43-303 - DEBT SECURED BY CROSS-COLLATERAL.
Section 28-43-304 - NO ASSIGNMENT OF EARNINGS.
Section 28-43-305 - AUTHORIZATION TO CONFESS JUDGMENT PROHIBITED.
Section 28-43-306 - CERTAIN NEGOTIABLE INSTRUMENTS PROHIBITED.
Section 28-43-307 - BALLOON PAYMENTS.
Section 28-43-308 - REFERRAL SALES.
Section 28-43-309 - RESTRICTIONS ON INTEREST IN LAND AS SECURITY.
Section 28-43-310 - REGULAR SCHEDULE OF PAYMENTS — MAXIMUM LOAN TERM.