Section 1-55-5 - Transfer of recovered moneys to referring entity--Proration of insufficient amounts--Order of debt collection

1-55-5. Transfer of recovered moneys to referring entity--Proration of insufficient amounts--Order of debt collection.The center shall transfer any other moneys collected from a debtor to the referring entity within thirty days after the end of the month in which the moneys were collected. If the amount collected is less than the principal amount of the debt referred to the center and the cost recovery fee imposed by this chapter, the amount collected shall be prorated between the principal amount of the debt referred and the cost recovery fee.If more than one referring entity has referred a debt to the center regarding the same debtor, or if the same referring entity has referred multiple debts to the office regarding the same debtor, the center shall collect the first referred debt before proceeding to the collection of the subsequent referred debt in the order referred. Source: SL 2015, ch 14, §5.