Legislation

Title: Financial Institutions - Consumer Credit - Sales-Based Financing Transactions
Sponsored by: Senator Kramer
Status: In the Senate - Hearing 2/23 at 1:00 p.m.
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:: Finance Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0664

Bill File Type: Regular

Effective Date(s): October 1, 2021

History

Legislation History
Chamber Senate Calendar Date 1/26/2021 Legislative Date 1/26/2021 Action First Reading Finance Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Financial Institutions - Consumer Credit - Sales-Based Financing Transactions Proceedings
Chamber Senate Calendar Date 1/31/2021 Legislative Date 1/31/2021 Action Hearing 2/23 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/26/2021	1/26/2021	First Reading Finance
			Text - First - Financial Institutions - Consumer Credit - Sales-Based Financing Transactions
Senate	1/31/2021	1/31/2021	Hearing 2/23 at 1:00 p.m.

File Code

Subjects

Statutes