92nd General Assembly
Status of HB0720
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 Full Text  Bill Summary

   New Act                                                                     

        Creates the Short-term Loan Act.  Provides that a short-term loan      
   is a loan that has both a term  of  not  more  than  30  days  and  an      
   interest  rate  of  more  than  36%.  Requires  lenders  to disclose a      
   toll-free  telephone  number   for   the   Department   of   Financial      
   institutions.  Provides  that  the  appraisal  of  motor vehicles that      
   secure loans may not exceed the vehicle's "blue book" value.  Requires      
   lenders   to   provide   debt  management  counseling  information  to      
   defaulting borrowers. Effective immediately.                                
   FEB-07-2001  H  FILED WITH CLERK                                               
   FEB-07-2001  H  FIRST READING                                                  
   FEB-07-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-15-2001  H       ASSIGNED TO COMMITTEE               CONSUMER PROT         
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary