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2011 SESSION
HB 2228 Open-end credit plans; prohibits anyone other than seller of certain goods from extending credit.
Introduced by: John M. O'Bannon, III | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Open-end credit plans. Prohibits anyone other than the seller of goods to be used for personal, family, or household purposes from extending credit under an open-end plan at interest rates that exceed the legal rate of interest. To extend credit under such a plan, the loan must be for the sole purpose of financing the bona fide purchase price of such goods.
FULL TEXT
HISTORY
- 01/12/11 House: Prefiled and ordered printed; offered 01/12/11 11102064D
- 01/12/11 House: Referred to Committee on Commerce and Labor
- 01/27/11 House: Subcommittee recommends laying on the table by voice vote
- 02/08/11 House: Left in Commerce and Labor