HOUSE BILL 988

Sponsored By:

Delegates Arnick and Kagan

Entitled:

Credit Regulation - Revolving Credit Plan - Origination Fees

Synopsis:

Authorizing a credit grantor of an open end credit plan that is secured by real property to charge an origination fee not to exceed 2% of the initial advance made under the plan.

Legislative History

House Action

2/2

First Reading Commerce and Government Matters

2/7

Hearing 2/27 at 1:15 p.m.

3/4

Favorable Report by Commerce and Government Matters

3/5

Favorable Report Adopted

Second Reading Passed

3/8

Third Reading Passed (111-23)

3/27

Returned Passed

5/14

Signed by the Governor Chapter 510

Senate Action

3/11

First Reading Finance

3/12

Hearing 3/26 at 1:00 p.m.

3/28

Favorable Report by Finance

Favorable Report Adopted

Second Reading Passed

3/30

Third Reading Passed (46-0)

Sponsored by:

Delegate John S. Arnick, District 7

Delegate Cheryl C. Kagan, District 17

Bill indexed under the following Subjects:

CREDIT

FEES -see also- DEVELOPMENT FEES AND TAXES

LOANS

MORTGAGES

Bill affects the following Statutes:

Commercial Law

( 12-905 , 12-905 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments: None available