1997 Regular Session

SENATE BILL 492

File Code: Commercial Law - Consumer Protection
Sponsored By:
Senators Young, Trotter, Conway, and Teitelbaum
Entitled:
Consumer Protection - Deferred Payments - Disclosure of Conditions

Synopsis:

Making it an unfair and deceptive trade practice for a person to sell any goods or services under a deferred payment contract without disclosing in the sales contract any penalties that may be involved in the contract, the schedule for the repayment of principal and interest, the rate or rates at which interest will accrue, whether interest will be compounded, and, if the interest will be compounded, at what intervals the interest will be compounded; etc.

Legislative History

Senate Action
1/30
First Reading Finance
Hearing 2/18 at 1:00 p.m.
3/21
Favorable with Amendments Report by Finance
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/24
Third Reading Passed (46-0)
House Action
3/22
First Reading Economic Matters
3/26
Hearing 4/1 at 1:00 p.m.
Sponsored by:
Senator Larry Young, District 44
Senator Joan Carter Conway, District 43
Senator Leonard H. Teitelbaum, District 19
Senator Decatur W. Trotter, District 24
Bill indexed under the following Subjects:
ADVERTISING -see also- LABELING; SIGNS AND BILLBOARDS
CONSUMER PROTECTION -see also- ADVTG.; LABELING; WARRANTIES.
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
CREDIT
DISCLOSURE
INTEREST
PENALTIES
Bill affects the following Statutes:
Commercial Law
( 13-301 , 14-1315 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)

Amendments:
Senate
Number: 157040/1 (PDF) Offered on: MARCH 21, 1997 at: 13:14 Status: Adopted