Any individual (or entity) that commences, conducts, or operates any collection service business in the State of Tennessee, except the exemptions per TCA 62-20-103 listed below:
(a) This chapter does not apply to:
(1) Any person handling claims, accounts or collections under order of any court;
(2) Attorneys at law;
(3) Any person engaged in the collection of indebtedness incurred in the normal course of business or the business of a parent, subsidiary or affiliated firm or corporation; however, no person who is or represents the person to be a collection service is exempt from this chapter;
(4) Any state or national bank; state or federal mutual savings bank; state or federal savings institution; or any parent, subsidiary, or affiliate of any of the foregoing;
(5) Any state or federal credit union;
(6) Any industrial loan and thrift company licensed or authorized by title 45, chapter 5;
(7) Any small business development corporation authorized by title 45, chapter 8;
(8) Any person that services or collects obligations secured by a consensual lien on a dwelling as defined by 12 C.F.R. 1026.2(a)(19) or any successor regulation; or
(9) Any person that holds or acquires accounts, bills or other forms of indebtedness through purchase, assignment, or otherwise; and only engages in collection activity through the use of a licensed collection agency or an attorney authorized to practice law in this state.
(b) Nothing contained within this chapter shall be construed to require an individual or business entity that collects only the individual's or its own unpaid accounts to submit to licensure or regulation by the collection service board.