Legislation

Title: Financial Institutions - Consumer Credit - Sales-Based Financing Transactions
Sponsored by: Delegate Howard
Status: In the House - Unfavorable Report by Economic Matters
Analysis: Fiscal and Policy Note

Synopsis

Prohibiting a person from engaging in the business of making or soliciting a sales-based financing transaction unless the person is licensed by the Commissioner of Financial Regulation; requiring an applicant for a license to have $20,000 in available liquid assets and to have demonstrated a sufficient level of responsibility to command public confidence and warrant faith in the honest operation of the business; requiring the Commissioner to investigate and ensure that each applicant meets certain qualifications; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: SB0532

Bill File Type: Regular

Effective Date(s): October 1, 2021

History

Legislation History
Chamber House Calendar Date 1/22/2021 Legislative Date 1/22/2021 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Financial Institutions - Consumer Credit - Sales-Based Financing Transactions Proceedings
Chamber House Calendar Date 1/28/2021 Legislative Date 1/28/2021 Action Hearing 2/17 at 1:30 p.m. Proceedings
Chamber House Calendar Date 3/20/2021 Legislative Date 3/20/2021 Action Unfavorable Report by Economic Matters Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	1/22/2021	1/22/2021	First Reading Economic Matters
			Text - First - Financial Institutions - Consumer Credit - Sales-Based Financing Transactions
House	1/28/2021	1/28/2021	Hearing 2/17 at 1:30 p.m.
House	3/20/2021	3/20/2021	Unfavorable Report by Economic Matters

File Code

Subjects

Statutes