Magistrate administration; conflict of interest.

No magistrate shall, directly or indirectly: A. buy or be interested in buying any evidence of indebtedness or cause of action for the purpose of bringing any action before any court; B. either before or after suit, lend or advance or procure to be lent or advanced any money or other valuable thing to any person in consideration of, or as a reward or inducement for, placing any cause of action for prosecution or collection in any court; C. operate or be interested in a collection agency; D. with or without suit, collect, attempt to collect or become interested in collecting any claim where he received any commission, percentage, fee or charge other than those allowed by law; E. institute or influence any other person to institute any suit in any magistrate court; F. publish advertising relating to his office; G. operate or be interested in a bail or appeal bond business; or H. serve as surety on any bond posted in any court.