50-1123. Same; licensee's report to consumer; required contents. A licensee shall provide a report at least once every three months to each consumer who has entered into a debt management services agreement with the licensee. The report shall include the:
(a) Total amount received from the consumer to date;
(b) total amount paid to each creditor to date;
(c) total payoff amount or an estimated balance due to each creditor on any debt owed by the consumer;
(d) fees paid to the licensee by the consumer; and
(e) amount held in the trust account on behalf of the consumer, or statement that no amount is currently held.
History: L. 2004, ch. 22, § 8; L. 2017, ch. 52, § 19; July 1.
Structure Kansas Statutes
Chapter 50 - Unfair Trade And Consumer Protection
Article 11 - Credit Services Organizations
50-1116 Kansas credit services organization act; citation; scope.
50-1118 Same; licensing required to conduct credit services organization business; application.
50-1119 Same; bond; requirements.
50-1120 Same; duties of licensee.
50-1121 Same; prohibited acts.
50-1122 Same; registrant's duties regarding certain funds paid to licensee.
50-1123 Same; licensee's report to consumer; required contents.
50-1125 Same; records; retention; inspection.
50-1126 Same; fees charged by licensee; when allowed.
50-1127 Same; denial, suspension, revocation or refusal to renew license; notice.
50-1128 Same; state bank commissioner; powers and duties.
50-1129 Same; cease and desist orders; civil fines.
50-1131 Same; criminal penalty.
50-1132 Same; construction; application of consumer protection act.