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Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-24-201. State Board of Collection Agencies--Creation--Members

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) There is created a State Board of Collection Agencies composed of five (5) members to be appointed by the Governor.

(2) The members of the board:

(A) Shall hold office until a successor is appointed and qualified; and

(B) May be removed by the Governor for:

(i) Lacking competency to perform the duties of the position;

(ii) Conduct or behavior that is immoral;

(iii) Physical or mental infirmity that prevents the discharge of the member's duties;

(iv) An abuse of his or her official power; or

(v) Other good cause.

(3) The Governor shall fill a vacancy by appointment within thirty (30) days after the vacancy occurs.

(4) A member appointed to fill a vacancy caused by death, resignation, or removal:

(A) Shall meet the qualifications of the vacancy to be filled;

(B) Shall serve for the unexpired term of his or her predecessor; and

(C) Is eligible to be subsequently appointed to the board to the same position and any other position to which the member is qualified.

(5) The members of the board shall serve three-year staggered terms without compensation except they may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq.

(b)(1) Two (2) members shall:

(A) Be actively engaged as an owner or manager of a collection agency or someone employed by a collection agency in an executive capacity; and

(B) Have been actively engaged in connection with the operation of a collection agency for five (5) years next preceding their appointment.

(2) One (1) member shall be selected from the public at large.

(3) One (1) member shall:

(A) Represent the elderly;

(B) Be at least sixty (60) years of age; and

(C) Not be actively engaged in or retired from the operation of a collection agency.

(4) One (1) member shall be:

(A) Selected to represent the banking industry; and

(B) An Arkansas resident who is actively engaged in the operation of a banking entity that is chartered to conduct business in the State of Arkansas.

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Cite this article: FindLaw.com - Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-24-201. State Board of Collection Agencies--Creation--Members - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-17-professions-occupations-and-businesses/ar-code-sect-17-24-201/

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