§ 28-3804. Assignment of earnings and authorization to confess judgment prohibited.

Current through October 23, 2012

(a) A creditor may not take an assignment of earnings of the consumer for payment or as security for payment of an obligation arising out of a consumer credit sale or direct installment loan.

(b) A creditor may not take or accept from the consumer a warrant or power of attorney or other authorization for the creditor, or other person acting on his behalf, to confess judgment arising out of a consumer credit sale or direct installment loan.

(c) An assignment of earnings or an authorization in violation of this section is subject to the provisions of section 28-3813(d)(1) of this subtitle.

                
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(Dec. 17, 1971, 85 Stat. 670, Pub. L. 92-200, § 4.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 28-3804.

1973 Ed., § 28-3804.