SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

1996 SESSION

  • | print version

HB 1245 Charges on installment loans.

Introduced by: William P. Robinson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Charges on installment loans. Authorizes, for the purposes of a loan used to finance the purchase of a motor vehicle, a subsidiary or an affiliate of a bank or savings institution that is not a licensee under the Consumer Finance Act ( 6.1-244 et seq.), to charge in advance from the borrower (i) a loan fee not exceeding two percent of the loan principal and (ii) an interest rate upon the entire principal amount of the loan or pursuant to a written modification agreement.


FULL TEXT

HISTORY