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Now what???

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Now what???

Okay...so I went to the Secretary of State's website to check out some of the CAs on my DDs report and of course the biggest PITAs aren't showing up as licensed to do business in my state.  Should I just keep this "under my hat" until further along in the PIF, DV process or what?
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"Many people who order their lives rightly in all other ways are kept in poverty by their lack of gratitude." Wallace Wattles
Message 1 of 11
10 REPLIES 10
Moderator Emeritus

Re: Now what???

Which CA and which states (CA's and yours)?
Message 2 of 11
Contributor

Re: Now what???

LNVN...one of our favorites....I am in MS...they are not licensed in MS.


Message Edited by kidshelper on 07-15-2008 06:25 PM
__________________________________________________________
"Many people who order their lives rightly in all other ways are kept in poverty by their lack of gratitude." Wallace Wattles
Message 3 of 11
Moderator Emeritus

Re: Now what???



kidshelper wrote:
LNVN...one of our favorites....I am in MS...they are not licensed in MS.


Message Edited by kidshelper on 07-15-2008 06:25 PM

I have a running tally of states and their licensing and CA requirements so I jumped at the chance when you mentioned Mississippi.
 
I looked everywhere and could not find any mention that CAs are required to be licensed. I tried several agencies and looked throughout the 1972 Code, but couldn't find a thing.
 
The SOS doesn't require it. They do require and they do regulate domestic corporations franchised in or based in MS. So, if LVNV was based in Biloxi, for example, they would have to register with MS not as a CA but as a Corporation (LLC, S-Corp, whatever).
 
The Dept. of Banking and Consumer Finance doesn't have oversight either. All they require of debt-related businesses if for debt management companies to register, which LVNV certainly isn't one.
 
Also checked the Code for DV requirements or CA requirements and there were none as well.
 
The only recourse per licensing is to check the law's of LVNV's state to see if they are licensed there.
Message 4 of 11
Contributor

Re: Now what???



llecs wrote:


kidshelper wrote:
LNVN...one of our favorites....I am in MS...they are not licensed in MS.


Message Edited by kidshelper on 07-15-2008 06:25 PM

I have a running tally of states and their licensing and CA requirements so I jumped at the chance when you mentioned Mississippi.
 
I looked everywhere and could not find any mention that CAs are required to be licensed. I tried several agencies and looked throughout the 1972 Code, but couldn't find a thing.
 
The SOS doesn't require it. They do require and they do regulate domestic corporations franchised in or based in MS. So, if LVNV was based in Biloxi, for example, they would have to register with MS not as a CA but as a Corporation (LLC, S-Corp, whatever).
 
The Dept. of Banking and Consumer Finance doesn't have oversight either. All they require of debt-related businesses if for debt management companies to register, which LVNV certainly isn't one.
 
Also checked the Code for DV requirements or CA requirements and there were none as well.
 
The only recourse per licensing is to check the law's of LVNV's state to see if they are licensed there.


Ilecs:
 
I know MS does not require licensing of debt collectors. 
 
 However, I do believe they require companies, ie. corporations, LLC, S-corps to register with the Secretary of State if they do business in MS.  I am almost positive that is in the Statutes somewhere.
 
I did a search of all the CAs reporting on my DDs CRs, most of those not domiciled in MS were registered, including our "beloved" AFNI.  NCO nor LVNV were registered.
 
Did you find the search feature on the SOS's website?  If so, search out AFNI, then click on the registered agent of service for AFNI, very interesting list of corporations and officers.
 

 
__________________________________________________________
"Many people who order their lives rightly in all other ways are kept in poverty by their lack of gratitude." Wallace Wattles
Message 5 of 11
Moderator Emeritus

Re: Now what???

I have to disagree. Corporations are defined in Section 79-4-1.40:

(4) "Corporation" or "domestic corporation" means a corporation for profit, which is not a foreign corporation, incorporated under or subject to the provisions of Section 79-4-1.01 et seq. 

and "foreign corporation" is:

(13) "Foreign corporation" means a corporation for profit incorporated under a law other than the law of this state. 

Sect. 79-4-1.01 spells out the name of the act as "Mississippi Business Corporation Act".



Message Edited by llecs on 07-15-2008 11:53 PM

Message Edited by llecs on 07-15-2008 11:55 PM
Message 6 of 11
Contributor

Re: Now what???

I have already written a note to call the Mississippi Secretary of State and/or the Attorney General for clarification on whether or not a "company" has to be licensed with the SoS to do business in MS.  I will post the answer tomorrow....if I can get the answer.
__________________________________________________________
"Many people who order their lives rightly in all other ways are kept in poverty by their lack of gratitude." Wallace Wattles
Message 7 of 11
Moderator Emeritus

Re: Now what???



kidshelper wrote:
I have already written a note to call the Mississippi Secretary of State and/or the Attorney General for clarification on whether or not a "company" has to be licensed with the SoS to do business in MS.  I will post the answer tomorrow....if I can get the answer.


Thanks. Keep us posted.
Message 8 of 11
Contributor

Re: Now what???

Thank you!Smiley Very Happy
__________________________________________________________
"Many people who order their lives rightly in all other ways are kept in poverty by their lack of gratitude." Wallace Wattles
Message 9 of 11
Frequent Contributor

Re: Now what???

In MS also, would love to know.
Message 10 of 11
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