2005 Regular Session

SENATE BILL 902

File Code: Commercial Law - Credit Regulation
Sponsored By:
Senators Kelley and Exum
Entitled:
Financial Regulation - Debt Management Services

Synopsis:

Clarifying that a person who provides debt management services is subject to licensure whether or not the person maintains an office in the State; requiring an applicant for licensure as a debt management services provider to provide specified information to the Commissioner of Financial Regulation; prohibiting specified contracts or agreements, advertising, and incentives, subject to specified penalties; etc.

History by Legislative Date

Senate Action
2/21
First Reading Senate Rules
2/24
Re-referred Finance
2/25
Hearing 3/22 at 1:00 p.m.
4/4

Favorable with Amendments Report by Finance
4/2
Favorable with Amendments Report Adopted
Floor Committee Amendment (Finance) Adopted
Second Reading Passed with Amendments
4/3
Third Reading Passed (46-0)
House Action
4/1
First Reading House Rules and Executive Nominations
4/7
Re-referred Economic Matters
Hearing 4/8 at 1:00 p.m.
4/9
Favorable with Amendments Report by Economic Matters
4/5
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/6
Third Reading Passed with Amendments (103-28)

Sponsored by:

Senator Delores G. Kelley, District 10
Senator Nathaniel Exum, District 24

Bill indexed under the following Subjects:

ADVERTISING
BONDS -see also- COUNTY & BALTIMORE CITY BONDS; STATE BONDS.
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
CREDIT
CRIMES AND PUNISHMENTS -see also- PENALTIES; SENTENCES; etc.
DEBT COLLECTION -see also- ATTACHMENTS AND GARNISHMENTS
FEES -see also- DEVELOPMENT FEES AND TAXES
FINANCIAL REGULATION, DIVISION OF
FRAUD -see also- FORGERY
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
PENALTIES

Bill affects the following Statutes:

Courts and Judicial Proceedings
( 7-409 , 7-409 )
Financial Institutions
( 12-901 , 12-904 , 12-905 , 12-906 , 12-907 , 12-908 , 12-914 , 12-920 , 12-929 )
Insurance
( 2-401 , 27-801 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments (Displayed in WordPerfect 8 Format):
Senate
Number: 707171/01 (PDF)     Offered on: April 4, 2005   at: 11:39 p.m.     Status: Adopted
Number: 767675/01 (PDF)     Offered on: April 4, 2005   at: 11:35 p.m.     Status: Adopted
House
Number: 463290/01 (PDF)     Offered on: April 9, 2005   at: 12:26 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
April 3, 2005: Third Reading Passed (46-0)
House
April 6, 2005: Third Reading Passed (103-28)