SENATE BILL 825

File Code: Commercial Law - Credit Regulation

Sponsored By:

Senator Conway

Entitled:

Credit Regulation - Terms Relating to Prepayment Charges and Penalties and Class Actions

Synopsis:

Prohibiting specified loan contracts, instruments that evidence or secure specified loans and agreements, notes, or other evidence of specified loans from including a provision that prohibits a borrower from joining a class action brought in connection with a violation of specified provisions of law relating to prepayment charges and penalties.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.

Senate Action

2/8

First Reading Senate Rules

2/14

Re-referred Finance

3/5

Hearing 3/18 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Civil Actions -see also- Small Claims

Consumer Protection -see also- Unfair Trade Practices

Contracts -see also- Land Installment Contracts; Procurement

Credit

Fees -see also- Devt Fees and Taxes; Reimbursement Rates

Loans -see also- Mortgages

Penalties

Bill affects the following Statutes:

Commercial Law

( 12-111.1 , 12-409 , 12-1019.1 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered