HOUSE BILL 251

File Code: Commercial Law - Generally Crossfiled with: SENATE BILL 145

Sponsored By:

Delegate Krysiak

Entitled:

Consumer Protection - Contracts - Late Fees

Synopsis:

Clarifying the circumstances under which parties to a contract may agree to the payment of late fees; authorizing the parties to a contract to agree to require that late fees be paid when a party fails to make a payment when due; requiring full disclosure of any late fees; defining a term; providing for the application of the Act; and generally relating to late fees.

History by Legislative Date

House Action

1/26

First Reading Economic Matters

2/16

Hearing 2/29 at 1:00 p.m.

4/10

Unfavorable Report by Economic Matters

Senate Action

No Action

Bill indexed under the following Subjects:

COMMERCE AND BUSINESS -see also- DEALERS; TRADERS; etc

CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES

CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT

DISCLOSURE

FEES -see also- DEVELOPMENT FEES AND TAXES

Bill affects the following Statute:

Commercial Law

( 14-1315 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered