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What is NYC AC § 20-493?

Quick Answer

This section outlines the powers and duties of the commissioner, including the ability to create rules, enforce provisions, and investigate debt collection agencies. The commissioner can compel witness attendance and document production during investigations. Applies to debt collection agencies operating under this subchapter.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 20-493 Powers and duties of the commissioner.

AC § 20-493

a. The commissioner may make and promulgate such rules and regulations as may be necessary for the proper implementation and enforcement of subchapter. b. In addition to any other powers of the commissioner, not in limitation thereof, the commissioner shall have the power to enforce the provisions of this subchapter, to investigate any violation thereof, and to investigate the business, business practices and business methods of any debt collection agency, if in the opinion of the commissioner, such investigation is warranted. Each debt collection agency shall be obliged upon the request of the commissioner to supply such information as may be required concerning its business practices or methods or its proposed business practices or methods. c. For the purpose of enforcing the provisions of this subchapter, and in conducting investigations relating to any violation thereof, and for the purpose of investigating the business or business practices or methods of any debt collection agency, the commissioner, or the commissioner's designee, shall have the power to compel the attendance of witnesses and the production of books and records, in accordance with the provisions of chapter one of this title. d. For the purpose of this subchapter, licensees may be held responsible for statements, representations, promises or acts of their employees or their agents within the scope of their authority; provided, however, that licensees shall not be held responsible for the statements, representations, promises or acts which are contrary to instructions or which constitute gross negligence or intentional torts unless specifically authorized by the licensee.

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