No assignment of earnings

5-3-206. No assignment of earnings. (1) A creditor may not take an assignment of earnings of the consumer for payment or as security for payment of a debt arising out of a consumer credit transaction. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the consumer. (2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him or her secured by an assignment of earnings. Source: L. 2000: Entire article R&RE, p. 1220, � 1, effective July 1. Editor's note: This section is similar to former �� 5-2-410 and 5-3-403, as they existed prior to 2000.