Bob Rita
- Democratic
- Representative
- District 28
Primary
Amends the Consumer Installment Loan Act. Sets forth terms and conditions under which licensees may engage in making short-term loans. Provides that interest on these loans must be computed as simple interest. Requires licensees to provide information about debt management services to borrowers before entering into a short-term loan agreement. Establishes notice requirements for defaults by a borrower. Limits property in which a licensee may take a security interest to the check or motor vehicle title tendered to the licensee at the time of the loan transaction. Provides procedures for taking possession of motor vehicles. Effective immediately.
No votes to display
Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000
Held on Calendar Order of Second Reading - Short Debate
Second Reading - Short Debate
Added Co-Sponsor Rep. Patrick Verschoore
House Floor Amendment No. 1 Referred to Rules Committee
House Floor Amendment No. 1 Filed with Clerk by Rep. Robert Rita
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Financial Institutions Committee; 018-000-000
Assigned to Financial Institutions Committee
Filed with the Clerk by Rep. Robert Rita
Referred to Rules Committee
First Reading
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Document | Format |
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| House Amendment 001 |
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