425.040. Who not to be considered debt adjusters.

Who not to be considered debt adjusters.

425.040. The following persons shall not be considered debtadjusters for the purposes of this chapter:

(1) Any attorney at law of this state;

(2) Any person who is a regular, full-time employee of adebtor, and who acts as an adjuster of his employer's debts;

(3) Any person acting pursuant to any order or judgment ofcourt, or pursuant to authority conferred by any law of thisstate or of the United States;

(4) Any person who is a creditor of the debtor, or an agentof one or more creditors of the debtor, and whose services inadjusting the debtor's debts are rendered without cost to thedebtor; and

(5) Any person who, at the request of a debtor, arranges foror makes a loan to the debtor, and who, at the authorization ofthe debtor, acts as an adjuster of the debtor's debts in thedisbursement of the proceeds of the loan, without compensationfor the services rendered in adjusting the debts.

(L. 1963 p. 646 § 1)