Eric Bassler
- Republican
- Senator
- District 39
Author
Amends the Uniform Consumer Credit Code (UCCC) as follows: (1) Changes: (A) from July 1 of each even-numbered year to January 1 of each odd-numbered year the effective date for the adjustment, based on changes in the Consumer Price Index, of various dollar amounts set forth in the UCCC; and (B) the corresponding date that precedes the adjustment date and by which the department of financial institutions (department) must issue an emergency rule announcing the adjustment. (2) For an agreement for a consumer credit sale entered into after June 30, 2020: (A) authorizes a seller to contract for and receive a nonrefundable prepaid finance charge based on the amount financed, in addition to the credit service charge and any other authorized charges and fees; and (B) prohibits precomputed consumer credit sales. (3) Repeals a provision concerning the credit service charge for revolving charge accounts and relocates the language to the provision concerning the authorized credit service charge for consumer sales. (4) For an agreement for a consumer loan entered into after June 30, 2020: (A) changes the amount of the authorized nonrefundable prepaid finance charge from $50 to an amount that is not more than: (i) $75; (ii) $150; or (iii) $200; based on the amount financed, in the case of a consumer loan not secured by an interest in land; and (B) prohibits precomputed consumer loans. Makes conforming changes with respect to supervised loans. Changes from $1.50 to $3 the amount of the fee that a lessor in a rental purchase agreement may impose for accepting rental payments by telephone. Makes conforming technical amendments throughout the UCCC to reflect the bill's changes.
Public Law 85
Signed by the Governor
Signed by the President of the Senate
Signed by the Speaker
Signed by the President Pro Tempore
Motion to concur filed
Rules Suspended. Senate concurred in House amendments; Roll Call 355: yeas 40, nays 7
Dissent rescinded
Senate advisors appointed: Ruckelshaus and Ford J.D.
House advisors appointed: Heaton, Lehman, VanNatter, Chyung and Shackleford
House conferees appointed: Burton and Hamilton
Senate conferees appointed: Bassler and Breaux
Motion to dissent filed
Senate dissented from House amendments
Returned to the Senate with amendments
Third reading: passed; Roll Call 295: yeas 77, nays 17
Second reading: ordered engrossed
Committee report: amend do pass, adopted
First reading: referred to Committee on Financial Institutions
Referred to the House
House sponsor: Representative Burton
Third reading: passed; Roll Call 178: yeas 40, nays 9
Senator Ruckelshaus added as second author
Second reading: ordered engrossed
Committee report: amend do pass, adopted
Authored by Senator Bassler
First reading: referred to Committee on Insurance and Financial Institutions
| Bill Text Versions | Format |
|---|---|
| Introduced Senate Bill (S) | |
| Senate Bill (H) | |
| Senate Bill (S) | |
| Enrolled Senate Bill (S) |
| Document | Format |
|---|---|
| Fiscal Note: SB0395.04.ENRH.FN001 | |
| Fiscal Note: SB0395.03.COMH.FN001 | |
| Fiscal Note: SB0395.03.COMH.FN002 | |
| Fiscal Note: SB0395.03.COMH.FN003 | |
| Floor Amendment: SB0395.03.COMH.AMH001 | |
| Floor Amendment: SB0395.03.COMH.AMH002 | |
| Committee Report: SB0395.02.COMS.CRH001 | |
| Fiscal Note: SB0395.02.COMS.FN001 | |
| Fiscal Note: SB0395.02.COMS.FN002 | |
| Fiscal Note: SB0395.02.COMS.FN003 | |
| Committee Amendment: SB0395.02.COMS.AMH09 | |
| Committee Amendment: SB0395.02.COMS.AMH10 | |
| Committee Report: SB0395.01.INTR.CRS001 | |
| Fiscal Note: SB0395.01.INTR.FN001 | |
| Committee Amendment: SB0395.01.INTR.AMS05 |
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