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2004 SESSION

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HB 1066 Real estate; charge on option financing contracts and financing of delinquent rent.

Introduced by: Ward L. Armstrong | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Exceptions to legal rate of interest; exercising options for the purchase of real estate. Excludes loans that fund the exercise of options for the purchase of real estate from the general prohibition on contracts that require the payment of interest at rates exceeding 12 percent annually. The bill also excludes financing by a landlord of delinquent rent provided a promissory note has been executed by the tenant and the landlord and the note clearly states the annual percentage interest rate.

FULL TEXT

• 01/14/04  House: Presented & ordered printed, prefiled 01/14/04 045123216  pdf

HISTORY

• 01/14/04  House: Presented & ordered printed, prefiled 01/14/04 045123216
• 01/14/04  House: Referred to Committee on Commerce and Labor
• 02/05/04  House: Continued to 2005 in Commerce and Labor (22-Y 0-N)