HOUSE BILL 79

Sponsored By:

Chair, Economic Matters Committee (By Request - Departmental - Labor, Licensing and Regulation)

Entitled:

Commercial Law - Credit Services Businesses - Limitation on Fees

Synopsis:

Prohibiting a credit services business, its employees, and independent contractors who sell or attempt to sell the services of a credit services business from charging or receiving any money or other valuable consideration in connection with an extension of credit that, when combined with any interest charged on the extension of credit, would exceed a specified interest rate.

History by Legislative and Calendar Date

House Action

10/5

Pre-filed

1/13

First Reading Economic Matters

Hearing 1/21 at 10:30 a.m.

3/16

Favorable Report by Economic Matters

3/17

Favorable Report Adopted

Second Reading Passed

3/19

Third Reading Passed (106-29)

3/30

Returned Passed

Senate Action

3/22

First Reading Finance

3/23

Hearing 3/25 at 1:00 p.m.

4/2

Favorable Report by Finance

3/31

Favorable Report Adopted

Second Reading Passed

4/1

Third Reading Passed (47-0)

Action after passage in House and Senate

5/4

Approved by the Governor

- Chapter 385

Sponsored by:

Economic Matters Committee, Chair

Departmental

Labor, Licensing and Regulation, Department of

Bill indexed under the following Subjects:

Consumer Protection -see also- Unfair Trade Practices

Credit

Fees -see also- Attys` Fees; Devt Fees & Taxes; Reimb Rates.

Interest

Bill affects the following Statute:

Commercial Law

( 14-1902 )

Documents

Bill Text: First Reading, Third Reading, Enrolled, Chapter

Fiscal and Policy Note: Available

Amendments: None offered

Committee Votes :

House

Economic Matters

Senate

Finance

Roll Call Votes (Legislative dates are shown):

House

March 19, 2010: Third Reading Passed (106-29)

Senate

April 1, 2010: Third Reading Passed (47-0)