DEPARTMENT OF JUSTICE
Fraud and Consumer Protection Unit
NOTICE OF PUBLIC HEARING
102 Debt Management Services
The Attorney General in accordance with 6 Del.C. §2432(h) has proposed to adopt changes in the rules and regulations implementing the Delaware Uniform Debt Management Act in 6 Del.C. Chapter 24A as amended by HB 164.
The rules change the insurance requirement and eliminate the need for an overdraft notification agreement. In addition, the rules clarify the exception for individuals in an attorney-client relationship in Regulation 2.2.1. Provisions regarding fees payable to providers of debt settlement services are addressed in Regulation 4.2.11.
Since the Delaware Act was based on the uniform act developed by the National Conference of Commissioners on Uniform State Laws (NCCUSL), the Comments to the uniform act have been used to provide clarification of the Delaware law. See, for example, Regulation 11.6 that clarifies that interest on a trust account belongs to the individuals who provide the deposits and not to the provider and Regulation 6.7 that clarifies advertising. Comments to the NCCUSL uniform act that were considered in these proposals are indicated in italics after the regulations. These are not intended to become part of the final regulations but rather to provide background. The NCCUSL final draft and Comments can be found for reference at http://www.law.upenn.edu/bll/archives/ulc/ucdc/2005Final.htm
A public hearing will be held at 9:00 A.M. on Monday, December 10, 2007 in the Attorney General’s conference on the 6th floor of the Carvel State Office Building, 820 N. French Street, Wilmington, De 19801, where members of the public can offer comments. Anyone wishing to receive a copy of the proposed rules and regulations may obtain a copy from the Consumer Protection Unit of the Department of Justice at Carvel State Office Building, 5th floor, 820 N. French Street, Wilmington, DE 19801. Persons wishing to submit written comments may forward these to the Director of the Consumer Protection Unit at the above address. The final date to receive written comments will be at the public hearing.