SB0231 IN introduced

Assistance in obtaining veterans' benefits.

privacy

Plain-English summary

1. **ONE-SENTENCE SUMMARY:** This bill regulates how individuals and businesses can charge for services related to obtaining veterans' benefits, ensuring compliance with federal law and protecting veterans from deceptive practices.

2. **KEY REQUIREMENTS:**
   - Do not charge for advising or assisting with veterans' benefits unless allowed by federal law.
   - Avoid excessive or unreasonable fees for services related to veterans' benefits.
   - Do not condition fee repayment on actions like opening joint accounts or using electronic transfers.
   - Enter into a written agreement with clients before providing any services, which must comply with federal regulations.
   - Provide clear disclosures when advertising services or entering into business relationships regarding veterans' benefits.

3. **DEADLINES:** The bill is currently introduced and will take effect upon passage; businesses should prepare to comply immediately once it becomes law.

4. **PENALTIES:** Violating this bill is considered a deceptive act, which can lead to penalties under consumer protection laws, including fines and potential legal action.

5. **SMB IMPACT:** Small businesses offering services related to veterans' benefits will need to ensure their practices align with this bill to avoid legal repercussions, which may require adjustments to their service agreements and pricing structures.

Source description

Assistance in obtaining veterans' benefits. Provides that a person may not receive compensation for: (1) the preparation, presentation, or prosecution of; or (2) advising, consulting, or assisting an individual regarding; a veterans' benefits matter, except as permitted under federal law. Provides that a person may not receive compensation for referring an individual to another person to provide services related to veterans' benefits matters. Provides that a person may not receive excessive or unreasonable fees for services related to veterans' benefits matters. Provides that a person may not condition the repayment of fees: (1) upon the opening of a joint account with the recipient of veterans' benefits from which the person may make withdrawals; (2) upon the use of electronic funds transfers; or (3) by requiring an individual to act, in any manner, in violation of federal requirements relating to preauthorized transactions. Provides that a person may not collect, or attempt to collect, any fee for services rendered after receipt of benefits by a veteran or any other individual eligible for the benefits, if the person participated in the veterans' benefits matter prior to the issuance of veterans' benefits, and if the transaction was structured with an intent to avoid prohibited acts. Provides that a person seeking to receive compensation for services related to veterans' benefits matters must, before rendering any services, enter into a written agreement that is signed by both parties and that complies with federal regulations, including all terms regarding the payment of fees for services rendered. Requires a person to provide certain disclosures when entering into a business relationship with an individual or advertising for compensation services. Provides that a violation constitutes a deceptive act under the law concerning deceptive consumer sales and senior consumer protection provisions.

Not legal advice. Summaries are generated by AI from publicly available bill text and may contain errors or omissions. Always consult counsel before making compliance decisions.