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House approves higher bond requirement for collection agencies
Summary
The House passed House Bill 91 to raise the required bond for collection agencies from $5,000 to $10,000 and require a surety bond to better protect clients; the bill passed the House 70–1 and will be sent to the Senate.
The Utah House on the floor approved House Bill 91, raising the minimum bond collection agencies must post from $5,000 to $10,000 and requiring a surety bond rather than cash or alternative instruments to guarantee consumer protections.
Representative Brown, the bill sponsor, told colleagues the Department of Commerce had documented cases in which small collection…
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