SENATE BILL 520

Sponsored By:

Senators Dorman and Derr

Entitled:

Credit Regulation - Revolving Credit Plan - Origination Fees

Synopsis:

Authorizing a credit grantor of an open end credit plan that is secured by real property to charge an origination fee not to exceed 2% of the initial advance made under the plan.

Legislative History

Senate Action

2/2

First Reading Finance

2/6

Hearing 2/27 at 1:00 p.m.

3/14

Favorable Report by Finance

3/15

Favorable Report Adopted

Second Reading Passed

3/19

Third Reading Passed (44-1)

4/2

Returned Passed

5/23

Governor vetoed - Cross-filed bill was signed

House Action

3/19

First Reading Commerce and Government Matters

3/20

Hearing 3/28 at 1:15 p.m.

4/2

Favorable Report by Commerce and Government Matters

3/27

Favorable Report Adopted

Second Reading Passed

3/28

Third Reading Passed (108-18)

Sponsored by:

Senator Arthur Dorman, District 21

Senator John W. Derr, District 3

Bill indexed under the following Subjects:

CREDIT

FEES -see also- DEVELOPMENT FEES AND TAXES

LOANS

MORTGAGES

Bill affects the following Statutes:

Commercial Law

( 12-905 , 12-905 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments: None available