The bill aims to regulate compensation for services related to veterans' benefits by prohibiting individuals from receiving payment for assisting others in obtaining these benefits, except as allowed under federal law. It establishes definitions for "compensation" and "veterans' benefits matter," and outlines specific prohibitions, including receiving compensation for referrals, guaranteeing benefits, and charging excessive fees. Additionally, it requires that any agreement for compensation be documented in writing and signed by both parties. Notably, accredited representatives and attorneys are exempt from these provisions.

Furthermore, the bill amends the Unfair Practices Act to include a new provision that specifically addresses violations related to the newly established section on veterans' benefits. This addition reinforces the legal framework against unfair or deceptive trade practices in the context of veterans' benefits, ensuring that individuals are protected from exploitation in this area. The bill also updates the definitions section of the Unfair Practices Act to reflect these changes, including the insertion of the new violation related to veterans' benefits.

Statutes affected:
introduced version: 57-12-2