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The term "collection agency" shall not include persons whose collection activities are
confined to and are directly related to the operation of a business other than that of a collection
agency such as, but not limited to banks when collecting accounts owed to the banks and when
the bank will sustain any loss arising from uncollectible accounts, abstract companies doing
an escrow business, real estate brokers, public officers, persons acting under order of a court,
lawyers, trust companies, insurance companies, credit unions, savings associations, loan or
finance companies unless they are engaged in asserting, enforcing or prosecuting unsecured
claims which have been purchased from any person, firm, or association when there is recourse to
the seller for all or part of the claim if the claim is not collected.
History: 1969 c 766 s 2; 1995 c 202 art 1 s 25