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2012 SESSION

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SJ 44 Constitutional amendment; maximum lawful rate of interest (first reference).

Introduced by: John C. Miller | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); maximum lawful rate of interest.  Caps the maximum lawful rate of interest on any contract for the loan or forbearance of any money, if the money is for use primarily for personal, family, or household purposes, at 36 percent per year. The provisions do not apply to loans made by a depository institution that is subject to licensure by the Commonwealth or another state or by the federal government.

FULL TEXT

• 01/10/12  Senate: Prefiled and ordered printed; offered 01/11/12 12101663D  pdf

HISTORY

• 01/10/12  Senate: Prefiled and ordered printed; offered 01/11/12 12101663D
• 01/10/12  Senate: Referred to Committee on Privileges and Elections
• 01/17/12  Senate: Continued to 2013 in Privileges and Elections (15-Y 0-N)