Legislation

Title: Commercial Law - Acceleration of Loan Indebtedness Due to Death - Prohibited
Sponsored by: Senator Frosh
Status: In the Senate - Hearing cancelled
Analysis

Synopsis

Prohibiting specified loan and credit agreements from containing a specified acceleration clause in which any part or all of the unpaid balance may be declared due and payable due solely to the death of a borrower, debtor, or guarantor; establishing, notwithstanding specified provisions of the Act, that a lender or credit grantor is not obligated to extend additional credit or make any cash advance to a specified person under specified circumstances; providing for the scope of specified provisions of the Act; etc.

Committees

Original:: Finance

Opposite:

Details

Bill File Type: Regular

Effective Date(s): October 1, 2013

History

Legislation History
Chamber Senate Calendar Date 2/28/2013 Legislative Date 3/01/2013 Action First Reading Senate Rules Proceedings
Chamber Senate Calendar Date 3/06/2013 Legislative Date 3/07/2013 Action Rereferred to Finance Proceedings
Chamber Senate Calendar Date 3/07/2013 Legislative Date 3/07/2013 Action Hearing 3/19 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 3/14/2013 Legislative Date 3/14/2013 Action Hearing cancelled Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/28/2013	3/01/2013	First Reading Senate Rules
Senate	3/06/2013	3/07/2013	Rereferred to Finance
Senate	3/07/2013	3/07/2013	Hearing 3/19 at 1:00 p.m.
Senate	3/14/2013	3/14/2013	Hearing cancelled

Documents

Date Posted	Document Name
3/01/2013	Text - First - Commercial Law - Acceleration of Loan Indebtedness Due to Death - Prohibited

File Code

Subjects

Statutes