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2013 SESSION
SB 917 Financial institutions; contract provision requiring amendment or waiver to be in writing, etc.
Introduced by: Richard H. Stuart | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Financial institutions; contract provision requiring amendment or waiver to be in writing. Provides that if any written contract to which a financial institution is a party contains a provision to the effect that no amendment or waiver of any terms or provisions of the contract is valid unless it is in writing, then any amendment or waiver of any terms or provisions of that contract by conduct, course of practice or dealing, or otherwise shall not apply to future rights and obligations under that contract unless it is in writing. This bill is identical to HB 1573.
SUMMARY AS INTRODUCED:
Financial institutions; contract provision requiring amendment or waiver to be in writing. Provides that a court, when considering a provision in a written contract involving a financial institution to the effect that no amendment or waiver of any of its terms will be valid unless the amendment or waiver is in writing, will not give effect to any amendment or waiver unless it is in writing.