92nd General Assembly
Summary of HB2249
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Senate Sponsors:

Short description: 
CONS INSTALL PAYDAY LOANS                                                  

Synopsis of Bill as introduced:
        Amends the Consumer Installment Loan Act. Sets  forth  terms  and      
   conditions  under  which  licensees  may  engage  in making short-term      
   loans. Provides that interest on  these  loans  must  be  computed  as      
   simple  interest. Requires licensees to provide information about debt      
   management services to borrowers before  entering  into  a  short-term      
   loan  agreement.  Establishes  notice  requirements  for defaults by a      
   borrower. Limits property in which a  licensee  may  take  a  security      
   interest  to the check or motor vehicle title tendered to the licensee      
   at the time of the loan transaction. Provides  procedures  for  taking      
   possession of motor vehicles. Effective immediately.                        
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


 Full Text  Bill Status