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2005 SESSION
SB 936 Banks or savings institutions; authorized to amend terms of revolving credit agreement.
Introduced by: Walter A. Stosch | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Revolving credit agreements. Affirms that a state bank or savings institution is authorized to amend the terms of a revolving credit agreement by following the procedures set forth in the agreement for effecting changes in its terms, subject to compliance with the federal Truth in Lending Act. This provision is stated to be declaratory of existing law. The measure also specifies that, unless a contract or plan otherwise expressly provides, the lender may amend the contract or plan in any respect at any time and from time to time, whether or not the amendment or the subject of the amendment was originally contemplated or addressed by the lender and borrower or is integral to their relationship.
FULL TEXT
- 01/11/05 Senate: Prefiled & ordered printed; offered 01/12/05 054133824 pdf | impact statement
- 03/02/05 Senate: Bill text as passed Senate and House (SB936ER) pdf | impact statement
- 04/01/05 Governor: Acts of Assembly Chapter text (CHAP0670) pdf
HISTORY
- 01/11/05 Senate: Prefiled & ordered printed; offered 01/12/05 054133824
- 01/11/05 Senate: Referred to Committee on Commerce and Labor
- 01/17/05 Senate: Reported from Commerce and Labor (14-Y 0-N)
- 01/19/05 Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/19/05 Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
- 01/20/05 Senate: Read second time and engrossed
- 01/21/05 Senate: Read third time and passed Senate (39-Y 0-N)
- 01/21/05 Senate: VOTE: PASSAGE R (39-Y 0-N)
- 01/21/05 Senate: Communicated to House
- 02/07/05 House: Placed on Calendar
- 02/07/05 House: Read first time
- 02/07/05 House: Referred to Committee on Commerce and Labor
- 02/11/05 House: Reported from Commerce and Labor (19-Y 0-N)
- 02/14/05 House: Read second time
- 02/15/05 House: Read third time
- 02/15/05 House: Passed House (96-Y 0-N 1-A)
- 02/15/05 House: VOTE: PASSAGE (96-Y 0-N 1-A)
- 03/02/05 Senate: Bill text as passed Senate and House (SB936ER)
- 03/02/05 Senate: Enrolled
- 03/03/05 House: Signed by Speaker
- 03/04/05 Senate: Signed by President
- 03/23/05 Governor: Approved by Governor-Chapter 670 (effective 7/1/05)
- 04/01/05 Governor: Acts of Assembly Chapter text (CHAP0670)