Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 112 - COLLECTION AGENCIES
Subchapter 3 - TRUST ACCOUNTS, FIDUCIARY RESPONSIBILITY, RECORDS, AUDIT
Section 16-112-16 - Maintenance of records of accounts assigned to collection agency of indebtedness to be kept by collection agency
Universal Citation: HI Admin Rules 16-112-16
Current through August, 2024
(a) Each collection agency shall maintain permanent legible records or have immediate access to permanent legible records of all of the accounts assigned to the agency. The records may be in the form of one or a combination of the following methods:
(1) A listing sheet;
(2) An acknowledgment-receipt slip;
or
(3) A master contract or
agreement.
(b) The records for each account shall contain but shall not be limited to the following:
(1) Client's name and
address;
(2) Debtor's name and
address;
(3) Date of
assignment;
(4) Amount owed by the
debtor;
(5) Date and description of
all collection agency transactions; and
(6) Fee to be charged the client for each
account.
(c) The collection agency may dispose of the records of an account, provided that no less than six years have passed since the date of the last transaction.
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