SENATE BILL 825

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

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