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2004 SESSION
HB 688 Payday Loans; retention of copies of checks, payments on loan prior to maturity.
Introduced by: Harvey B. Morgan | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Payday Loan Act; requirements; charges. Requires payday lenders to retain their borrowers' checks. The bill prohibits application of post-maturity interest to loan fees and limits borrowers' right to make partial payments to the period prior to loan maturity. Payday lenders are required to return paid loan agreements to borrowers marked "paid" or "canceled" and to keep copies of such agreements. The measure also provides that the Payday Loan Act's provisions exclusively control the post-judgment interest and other charges and expenses payday lenders may recover from borrowers.
FULL TEXT
- 01/14/04 House: Presented & ordered printed, prefiled 01/13/04 040421158 pdf | impact statement
- 03/23/04 House: Bill text as passed House and Senate (HB688ER) pdf | impact statement
- 04/12/04 Governor: Acts of Assembly Chapter text (CHAP0295) pdf
HISTORY
- 01/14/04 House: Presented & ordered printed, prefiled 01/13/04 040421158
- 01/14/04 House: Referred to Committee on Commerce and Labor
- 01/27/04 House: Reported from Commerce and Labor (21-Y 1-N)
- 01/29/04 House: Read first time
- 01/30/04 House: Read second time and engrossed
- 02/02/04 House: Read third time and passed House (95-Y 5-N)
- 02/02/04 House: VOTE: PASSAGE (95-Y 5-N)
- 02/02/04 House: Communicated to Senate
- 02/03/04 Senate: Constitutional reading dispensed
- 02/03/04 Senate: Referred to Committee on Commerce and Labor
- 03/08/04 Senate: Reported from Commerce and Labor (9-Y 1-N)
- 03/09/04 Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/09/04 Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
- 03/09/04 Senate: Read third time
- 03/09/04 Senate: Passed Senate (40-Y 0-N)
- 03/09/04 Senate: VOTE: PASSAGE (40-Y 0-N)
- 03/23/04 House: Bill text as passed House and Senate (HB688ER)
- 03/23/04 House: Enrolled
- 03/24/04 House: Signed by Speaker
- 03/24/04 Senate: Signed by President
- 03/31/04 Governor: Approved by Governor-Chapter 295 (effective 7/1/04)
- 04/12/04 Governor: Acts of Assembly Chapter text (CHAP0295)