No business license shall be issued to conduct a collection agency, collection bureau or collection office in this city, or engage in this city in the business of soliciting the right to collect or receive payment for another of any account, bill or other indebtedness, or advertise for or solicit in print the right to collect or receive payment for another of any account, bill or other indebtedness, unless at the time of conducting the collection agency, collection bureau, collection office or collection business, or of advertising or soliciting, that person or the person for whom he or she may be acting as agent, is registered with the Utah division of corporations and commercial code, has a good and sufficient bond on file with the Utah division of corporations and commercial code, and is in compliance with Utah Code Annotated sections 12-1-1 through 12-1-10. (2003 Code)