1996 Regular Session

HOUSE BILL 988

CHAPTER NUMBER: 510 File Code: Commercial Law - Credit Regulation Crossfiled with: SENATE BILL 520
Sponsored By:
Delegates Arnick and Kagan
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

House Action
2/2
First Reading Commerce and Government Matters
2/7
Hearing 2/27 at 1:15 p.m.
3/4
Favorable Report by Commerce and Government Matters
3/5
Favorable Report Adopted
Second Reading Passed
3/8
Third Reading Passed (111-23)
3/27
Returned Passed
5/14
Signed by the Governor Chapter 510
Senate Action
3/11
First Reading Finance
3/12
Hearing 3/26 at 1:00 p.m.
3/28
Favorable Report by Finance
Favorable Report Adopted
Second Reading Passed
3/30
Third Reading Passed (46-0)
Sponsored by:
Delegate John S. Arnick, District 7
Delegate Cheryl C. Kagan, District 17
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