1996 Regular Session

SENATE BILL 520

File Code: Commercial Law - Credit Regulation Crossfiled with: HOUSE BILL 988
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