92nd General Assembly
Summary of HB5944
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House Sponsors:
TURNER,ART-YARBROUGH-SAVIANO-MORROW.

Short description: 
CONS INST LOAN PRACTICES                                                   

Synopsis of Bill as introduced:
        Amends the  Consumer  Installment  Loan  Act.  Provides  for  the      
   regulation  of deferred deposit lenders.  Limits the number of times a      
   deferred deposit loan may be refinanced.   Requires  deferred  deposit      
   lenders  to comply with all applicable local ordinances as a condition      
   of obtaining a license.  Requires deferred  deposit  lenders  to  make      
   disclosures  concerning  the availability of debt management services.      
   Requires deferred deposit lenders to remit $0.25  per  transaction  to      
   the   Department  of  Financial  Institutions  for  deposit  into  the      
   Financial Literacy and Responsibility Fund,  a  special  fund  in  the      
   State  treasury.   Provides  for  the  money to be used to educate and      
   counsel consumers of financial services.                                    
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


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 Full Text  Bill Status